Self Employed Event Planner Promo Deductions

[4Cordelia]

I own a travel and event business.  At my travel promotion seminars I give away gift cards and other merchandise I have purchased.  Can I deduct those and where in Schedule C to I enter the amounts? 

Thanks, 

Heidi 

[SabrinaD2]

You can likely  deduct the cost of gift cards and merchandise given away at your travel promotion seminars as business expenses. Here’s how to handle it:

Deducting Promotional Expenses

1. Gift Cards and Merchandise: These can be categorized as advertising or promotional expenses. On Schedule C, you would typically enter these amounts under "Advertising" (Line 😎 or "Other Expenses" (Line 27a) with a detailed description.

Helpful Links

• IRS Schedule C Instructions
• Tax Write-Offs for Event Planners

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