I started an event planning business in 2024. As I'm just getting started, I purchased items to make decorations and items to give away at the events instead of purchasing ones already made. I also raffle off some of these items at the event as a promotional, some are just giveaways for attending. Some I keep for the next event.
I have received several new bookings as the client said every time they looked at the item they "won" they thought about the event they had attended and wanted to book another event with me.
SO. everything I'm purchasing, which category If I keep the item vs giving it away?
ie: table cloths, centerpieces, decor I create for a client's event, but I retain as they don't want them, bags of goodies, etc.
I'm just confused as to what constitute supplies vs misc. expenses promotional/advertising.
Thank You
