Pulling off the perfect event takes creativity and a fine attention to detail. From the perfect recipe to a showstopping presentation, you think of everything — at least, everything the customer sees. But too often, business owners neglect their own finances, especially when it comes to taxes.
But just like leaving the hors d'oeuvres in the oven too long, leaving your business expenses in your taxable income is a recipe for disaster. It’s time to take those sweet savings out, lower your tax bill, and give you back more of your hard-earned income to put toward your next event.
Schedule C, Box 22
You can write off pots, pans, spatulas, mixing bowls, and everything else you use to cook food.
Schedule C, Box 38 (COGS)
Any food or ingredients you use to cook meals for clients are write-offs.
Schedule C, Box 22
Dishes, utensils, napkins, and other serving items can be deducted on your taxes.
Schedule C, Box 22
Bowls, pans, containers, and whatever you use to transport food to an event are write-offs.
Schedule C, Box 20b
If you rent a kitchen to prepare catered meals, you can deduct it from your taxes.
Schedule C, Box 23
Any required certifications or licensing fees can be deducted.
Schedule C, Box 8
Business cards, brochures, service menus, and flyers promoting your business are deductible.
Schedule C, Box 8
Ad campaigns on Google, Meta, TikTok, and more are all deductible on your taxes.
Schedule C, Box 8
Squarespace, Wix, GoDaddy, and other website service fees are fully tax-deductible.
Schedule C, Box 11
If you need to hire an editor, designer, photographer, or other creative pro, write off what you pay them.
As a freelance caterer, you'll likely need to zip around town for client meetings, venue visits, and to pick up fresh ingredients or cooking supplies.If you drive your own car for these things, you can claim car-related costs as a business expense.
Schedule C, Box 27a
Parking for a meeting downtown, or any other work trip, is tax-deductible!
Schedule C, Box 27a
A toll while driving to or from a work destination is tax-deductible!
Schedule C, Box 13
If you buy a new car, you can write off part of the cost every year for five years.
Schedule C, Box 22
Flashlights, tire iron, duct tape, and other tools you may need in your vehicle are deductible.
Schedule C, Box 15
Car insurance monthly fees, registration, even roadside assistance are partially deductible.
Schedule C, Box 9
Oil changes, repairs, and regular checkups are all tax-deductible if you drive for work.
Perhaps you want to take a client out for dinner to get a sense of the kind of food they enjoy. To the IRS, this is a business meal and can be written off your taxes.
Other potential business meals include going out for food or coffee with venue owners, event planners, or fellow caterers.
Schedule C, Box 24b
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
If you're cooking up big out-of-town plans to take your business to the next level, such as catering an event, meeting with a client, or attending an industry workshop or conference, don't forget to write off your travel expenses.
Schedule C, Box 24a
Planes, trains, and car rentals are all work-related travel costs that can be written off.
Schedule C, Box 24a
When you travel for work, lodging expenses such as hotel rooms or Airbnb are write offs.
Schedule C, Box 24a
When you're traveling for work, all meals are tax-deductible. Even takeout!
A caterer might work from home on a number of things:
- Cooking
- Food prep
- Testing new recipes
- Managing finances and paperwork
- Creating marketing materials
- Working on client development
If you work from home regularly, you can deduct home office-related expenses.
Schedule C, Box 18
A desk, chairs, lamps, and other home office necessities are all tax write-offs.
Schedule C, Box 21
You can write off up to $2,500 for individual repairs to your property.
Form 8829
Gotta keep the lights on in your home office! A portion of your electricity bill counts.
Form 8829
Whether it's rental or homeowners insurance, you can write off a portion through your home office deduction.
Form 8829
It'd be hard to work in an office without running water, huh? You water bill counts.
Schedule C, Box 25
Your Comcast bill is a tax write-off. You need internet to do your job!
