Do we have to pay taxes on wedding monetary gifts?
2007-05-24 06:36:22 · 13 answers · asked by 6th Finger 2 in Family & Relationships ➔ Weddings
1] NO. Extremely rude; and very, very, tacky. Register for gifts at one or two stores, like Macy's and Home Depot, or you WILL get crappy gifts.
2] Legally, probably, but only if it is enough to raise you to another tax bracket? Ask in legal questions.
2007-05-24 06:42:48 · answer #1 · answered by Nurse Susan 7 · 1⤊ 1⤋
NO NO NO NO NO! I am HORRIFIED! The entire point of a bridal shower is that the bride is "showered" with GIFTS not money. I would get them a gift anyway. Online registries are huge these days and they offer a chance for the bride and groom to choose the gifts they want so they don't end up with 10 crockpots or 47 toasters. As far as the money for the party, I don't know. The maid of honor is hosting but the bridesmaids are a part of it all too... I'd say that's up to you!
2016-05-17 04:42:05 · answer #2 · answered by jamey 3 · 0⤊ 0⤋
It is kind of tacky to ask for money. I would still register at at least one store. Keep the list small if you want. Most people are going to buy you a gift for the shower. For the wedding most people usually give money anyway. When people see how small your list is they will probably get the idea that you want money or don't need much. If you don't give people the option to buy gifts off a registry they will get you whatever they want and you may not like it.
2007-05-24 06:46:47 · answer #3 · answered by LadyD1019 4 · 1⤊ 1⤋
Yeah, if you want to look tacky. Set up a small registry with items you want and let your family know you would prefer cash gifts instead (i.e. "we're saving for a house downpayment"). Some guests will buy presents no matter what and some will give cash no matter what. Registering for cash is just downright rude, as is insinuating your guests are incapable of choosing nice presents. You don't pay taxes on any type of wedding gifts.
2007-05-24 06:44:52 · answer #4 · answered by Meems 6 · 0⤊ 1⤋
Im sorry to reiterate what everyone has said about it being tacky but it would be very tacky to try to get money that way and some people would be very offended.
That being said you will still probably get money from alot of people. One thing you can do is register at Bed bath and beyond. They give cash back for all gifts purchased off your registry. Although it would be a pain to return it all that is one way to get cash instead without looking tacky. Good Luck!
2007-05-24 07:19:31 · answer #5 · answered by Ann B 3 · 1⤊ 1⤋
You actually may have to pay taxes on monitary gifts depending on which state you live in. But I would go with e-trade and not payPal. PayPal is quickly getting a reputation for security and customer service issues. But make sure you're tastefull about how you let your guests know about your preference. Most people would rather help you get your life started with something valuable like your first pair of sheets rather than put a price on your marriage like $40. Good luck!
2007-05-24 06:44:27 · answer #6 · answered by Chiky 4 · 0⤊ 1⤋
No you just can't. If you don't want ANY gifts, that is allowable to say. However, you can't ask for money, or anything else monetary. Get a job, save some money and pay for your own wedding and honeymoon. Be a MAN.
2007-05-24 08:48:19 · answer #7 · answered by Lydia 7 · 1⤊ 1⤋
you should NEVER ask for monetary gifts during a wedding. It's rude man....I know you need it, many young couples do but where I come from it's rude to ask anyone for money in a gift situation....
2007-05-24 06:45:37 · answer #8 · answered by BT 5 · 1⤊ 1⤋
One word: tacky.
If you register properly you won't get crappy gifts. You two are bound to need at least a few things when starting your life together, so register for what you want...it is the same thing as spending the money for it yourself.
2007-05-24 06:45:27 · answer #9 · answered by Mia1385 4 · 1⤊ 1⤋
Greedy greedy greedy If the only reson why you invite people to your wedding is because you expect a gift or money - then you're too immature for marriage.
No. you can't tell people what to give you - or how much to spend.
2007-05-24 07:02:54 · answer #10 · answered by Barbara B 7 · 1⤊ 1⤋