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New Member
posted Mar 12, 2025 11:04:11 AM

as a self employed, how can I rite off the expenses for supplies for my service business?

I have a balloon decor business. I go to the party venue, set it up and then when the party is over I go back to pop the balloons and remove any of my equipment that I used. How can write off the supplies I used for the events I made?

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3 Replies
Employee Tax Expert
Mar 12, 2025 11:21:40 AM

After you enter your business income, it will ask you about business expenses.  The balloons would be listed as supplies under Other Common Business Expenses.  

The equipment would depend on what it is, but it is generally listed as a business asset and depreciated over its useful life, unless you spent less than $2,500 on them, then you may be able to fully expense the equipment under The De Minimis Safe Harbor election.  You will find the asset entry after the business expenses section. 

Level 15
Mar 12, 2025 11:25:29 AM

What version are you using?  Online or Desktop?  If you are in Online Deluxe you will have to upgrade to Premium to enter Expenses.  All the Desktop programs have all the forms and expenses.  

New Member
Mar 12, 2025 12:00:18 PM

I'm using premium. Should I write it off as a total (including taxes e shipping)  your I have to place item by item and the taxes and shipping for those purchase in a different category?