Interesting question and hope the pros will weigh in. Thinking most in this situation would consider themselves hosting an event, rather than “gifting” a wedding. No idea of technicalities though, and if paying vendors/venue directly would impact status.
Well…the gift thing really has a lifetime max…for the giver.
But hosting a party? I’m not viewing this as a gift to my kiddo. We are hosting an event.
@BelknapPoint or @Madison85 your opinions? As this relates to gift tax?
Perhaps it depends on whether it’s a gift directly to D, as opposed to making her a gift by paying the vendors directly, etc. I suspect it may have something to do with who is party to the contracts, etc. Payment for the pieces of my S’s wedding that we covered were made directly to vendors (or in one case, the the MOB, since she had signed the contract).
There’s no limit to amount that can be gifted to the recipient, as I understand it, and the only impact on the person making the gift is whether it will reduce the lifetime gift exemption. If the yearly amount gifted does not exceed the current limit, there is no need to file a gift tax return (informational only) and it doesn’t count against the lifetime exemption. Any amount in excess of that does trigger those two events.
Only direct payments to health care providers and educational institutions are not counted as gifts by the IRS for estate tax purposes. Those can be unlimited and do not count towards your $15k annual or $11M lifetime caps. I am not a tax lawyer, so consult one if you wish. The IRS has a specific definition of what counts as a gift. Basically, the giver cannot benefit from the gift and all strings attached to the gift must be severed. Using that logic, if oldfort gets some benefit from the party and is hosting it, paying to the vendors, etc., it would be hard to classify that money as a gift. But if oldfort writes a check to her D for $20k and D used it for her $20k honeymoon, $5k of that would be a reportable gift. Again, I am not a tax lawyer, and this is not legal advice… 
Giving cash would be considered a gift for tax purposes. Any gifts over $15k from one person to another person in any tax year would need to be reported by the gift giver, and the excess over $15k would reduce the gift giver’s lifetime exemption (which now starts at $11.2 million). You are not limited in what you can give, you just need to follow the tax rules based on the size of the gift. Any gift you gave in 2017 or prior years has no effect on the $15k annual gift tax exclusion for 2018.
You can gift the max $15K to the bride AND a separate up to $15K to the groom as well as paying whatever you want because you want to. In reality the most you’d have to do is file a gift tax return if you’re going abouve $30K in gifts to the couple this year and it just goes against your $11 million lifetime max to the extent it exceeds the $30k. No taxes due with the form, just file the return if it concerns you.
Got it. It only applies to lifetime max.
About round tables - I’ve found that even with 8 people at a table you end up conversing only with the ones on either side of you. The others are too far away and the environment is loud. I would only have 6 max at a round table.
I have a little etiquette question (hoping I haven’t made a faux pas). My son is getting married next year. They will be getting married where they live (about 1200 miles from where we live). He mentioned they were looking at Feb because it costs less. I am a tax accountant so that is smack bang in the middle of my busiest period. Not a problem cause I can fly out. But by brother and SIL will be coming from England and I know they will want to extend it to a longer visit with us - they were due to come this year (we trade off every other year since my Mum died) but my SIL said she would rather put off the trip to coincide with the wedding (my brother plans to go ahead and come for a week this year). Anyway, extending their visit in Feb will just be so stressful - even if they came back to my home it I work very long hours and weekends that time of year so would really be caught in the middle. They neither of them drive and we live somewhere with no public transportation so they are pretty much dependent on us for everything. I did say to my son that if there is anyway they can do it after April 15 it would be great (I thought it wouldn’t hurt and he wouldn’t know if I didn’t mention it - though of course made clear I will be there whatever the date).
Now I’m wondering if I should have not said anything. I know wedding planning can be stressful so I don’t want to add to that. Can’t unsay it though. Have only met the bride once (I like her very much) so hope I haven’t got off on the wrong foot. Keeping my lips zipped about anything else.
You could speak to your son and ask. Make it clear you are just asking. Other affordable months would include October and November if mid-April is not possible. Otherwise, you need to to have a frank discussion with your brother and SIL.
I got married during tax season and it hadn’t occurred to me that it would be problem. One uncle, who was a CPA, couldn’t make it.
@swimcatsmom - your request was reasonable.
@swimcatsmom -I dont think your reques is unreasonable. They can still decide for themselves but you put it out there.
They might also ask the venue if they will give them the less expensive price for a later date. I know when we toured the venue my D liked they gave us the impression that they were willing to work with us on the price. My D went in with a date in mind because the price doubled for a summer date. She asked if they would give her the June date for the lower price. We were thinking they would come back with a compromise price but they were willing to do it for the spring price.
I think it was perfectly reasonable. D1 asked both sides of family if the date was good for us.
Thanks all - I was worried after I asked that maybe it was inappropriate of me to have done so. Of course I have no idea if he even mentioned it to his fiancé! I actually think spring where they live (Charleston) would be an absolutely gorgeous time for a wedding. But it’s not my wedding :).
I am going to a wedding in Charleston in March. Will report back
Holy JPMorgan, jym, just saw your post about water leak!! Eek. Hope you have someone dealing with it now.
I was at a wedding in Charleston in April 2016. It was fabulous!
Your request was fine. My nephew and his bride expressed a wish to have their wedding in the fall. My sister (MOG) is a teacher in NJ and asked them to please avoid September, if possible. They had a lovely late October wedding.
Well the latest is that the wedding is mid January. Actually much better than February for me as it’s before I get really busy so i can probably swing a week off to spend with my brother after the wedding. (still think April or may would be lovely but not my call! ). I’m a lot less stressed at the thought of January than February.
I’ve always thought a January wedding would be great, if just to play one of my top 5 favorite Avett Brothers songs:
https://www.youtube.com/watch?v=Jaj1zE0sUCI