If you’re a wedding planner running your own business, we know you’re managing multiple timelines, vendors, clients, and dreamy Pinterest boards—but one thing that might not feel so glamorous? Taxes.
Whether you’re a new business owner or have years of experience under your belt and are looking to get more organized, preparing for taxes doesn’t have to be overwhelming. With the right systems in place, you can approach tax season with confidence (and maybe even a little relief). Read on to see our top six tips to help you handle your taxes like the professional you are.
Tip #1: Know Your Business Structure
First, identify how your business is structured. Are you a sole proprietor, an LLC, or an S-corp? Your structure affects how you file and what taxes you’re responsible for. Most wedding planners start as sole proprietors or LLCs—both of which require self-employment taxes and quarterly estimated payments.
Pro Tip: If you’re unsure what your structure is or if it’s time to change it, consult a small business accountant. The right setup can save you money in the long run.
Tip #2: Track Your Income and Expenses (Consistently)
Keeping detailed records is crucial! Use tools like QuickBooks, Wave, or even a well-organized spreadsheet to track:
- Income from clients (keep invoices + payment confirmations)
- Business expenses (travel, marketing, software, subscriptions, office supplies)
- Contractor payments (photographers, florists, assistants you hire)
Not only will this make tax time easier, but it will also help you understand your profit margins.
Pro tip: Deducting legitimate business expenses can lower your taxable income—so don’t miss out by failing to track them!
Tip #3: Set Aside Money for Taxes Throughout the Year
This one is huge! When you’re self-employed, no one withholds taxes from your paycheck. That means it’s up to you to set aside roughly 25–30% of your income for federal and state taxes. You’ll also need to file quarterly estimated taxes if you expect to owe over $1,000 in a year.
To stay on top of it, we recommend:
- Schedule quarterly payments (usually due in April, June, September, and January)
- Open a separate tax savings account
- Transfer a percentage of each client payment into it
Tip #4: Use a CPA Who Understands Creative or Service-Based Businesses
Taxes for a self-employed wedding planner aren’t always straightforward. A CPA who understands event planning, seasonal income, and 1099 work can help you:
- Maximize deductions
- File the correct forms
- Plan ahead for slow seasons or growth
Hiring a tax pro might seem like an added expense, but it often saves you money and hours of stress.
Tip #5: Keep Digital and Paper Copies of Everything
Save receipts, contracts, mileage logs, invoices, and statements. Create either a physical file folder to place these items in, or use cloud storage tools like Google Drive, Dropbox, or Notion. The IRS recommends keeping records for at least three years.
Tip #6: Don’t Wait Until Last Minute
The worst time to deal with taxes is… well, during tax season. Instead, carve out a monthly “money day” to:
- Reconcile expenses
- Review client payments
- Organize receipts
By staying proactive, you’ll avoid last-minute panic and potential penalties.
As a wedding planner, you’re accustomed to keeping things running smoothly under pressure – after all, that’s what you do best! The same approach can make a big difference with your finances. When you stay organized and plan, tax season becomes a lot more manageable, and just another part of keeping your business on track.
The Find Your Wedding Planner Team
findyourweddingplanner.com