Whether it’s a baby shower or a retirement party, you know that every detail matters when pulling off the perfect event. Your clients expect the star treatment, but do you put that same level of care into saving money on your taxes?
What if we told you that it was easier than setting out chairs, and that even those chairs could help lower your tax bill? It’s true! By writing off all the ordinary business expenses you run into every day — and as an event planner, there’s a lot of them — you can reduce your taxes. And we’ve made it even easier, by putting together a guest list of all the best write-offs for event planners.
So go ahead, invite these savings into your life. You’ll be sending us a thank you card in no time!
Schedule C, Box 18
Software you use for invoicing, tracking expenses, creating timesheets, and so on is deductible.
Schedule C, Box 8
Print and online advertising costs for your business are considered write-offs.
Schedule C, Box 11
Freelancers, contractors, or other services that help you run your business are tax-deductible.
Schedule C, Box 27a
All conferences and retreats you attend to enhance your writing and network can be written off
Schedule C, Box 27a
Educational courses and certifications to enhance your skills are considered tax write-offs.
Schedule C, Box 27a
Newspaper or magazine subscriptions used for work-related research can be written off.
Schedule C, Box 10
Any costs you pay for to plan or run the event can be written off.
Schedule C, Box 20b
If you have to rent space to host a community event, write off the fee!
Schedule C, Box 18
Specific software subscriptions, like Cvent and Social Tables, are tax-deductible.
An event planner needs to be familiar with locations and vendors around town that can meet the needs of various clients. This will likely include a fair amount of driving from spot to spot, whether you're doing pickups, drop-offs, meetings, or scouting. Luckily, you can deduct expenses related to your car from your taxes.
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.
You might meet with a client at a coffee shop to talk about what they envision for an upcoming event or go for lunch with a vendor, mentor, or venue owner who wants to refer you to someone they know. Go ahead and deduct the costs of these business meals on your Schedule C.
Schedule C, Box 24b
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
In the event you go on an out-of-town business trip, like a client meeting, networking event with vendors, or industry summit, you can deduct travel-related 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!
Does your home often turn into a command center buzzing with activity in the lead-up to an event? Taking meetings, organizing vendor bills, and creating mock-ups or mood boards might be just a few of the things you do from home. If this includes you, don't forget to claim your home office 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!
