It's hard to stop and smell the roses when taxes are due — even for a florist.
Luckily, anyone with self-employment income can lower their taxable income with work expenses. Supplies aren't free, after all. Why should you pay taxes on income that went right back out the door?
This guide offers a roadmap for the types of work expenses can be written off on your taxes.
If you drive for work ...
You might drive your car to deliver arrangements. Or maybe it takes you back and forth from suppliers and vendors. Either way, you can write off part of what you spend on vehicle expenses, from gas to insurance.
Parking for a meeting downtown, or any other work trip, is tax-deductible!
A toll while driving to or from a work destination is tax-deductible!
Car purchase & depreciation
If you buy a new car, you can write off part of the cost every year for five years.
Flashlights, tire iron, duct tape, and other tools you may need in your vehicle are deductible.
Car insurance & registration
Car insurance monthly fees, registration, even roadside assistance are partially deductible.
Oil changes, repairs, and regular checkups are all tax-deductible if you drive for work.
If you discuss work at a restaurant ...
Are you grabbing a meal with a customer or a supplier? That makes it a business expense.
The IRS lets you write off 50% of what you spend on business meals. So go ahead — schedule that meeting with the wedding planner over lunch.
If you discuss work with a coworker, mentor, client, or prospective client, it's a write-off!
If you leave town for work ...
From Floriexpo to the Society of American Florists Annual Convention, you've got plenty of ready to travel out of town. As long as you're heading out for work-related reasons, the IRS has no problem with you writing off your airfare and accommodations.
Industry conference aren't the only business trip-worthy events. If you meet with an out-of-town supplier or client, that also qualifies.
Planes, trains, and car rentals are all work-related travel costs that can be written off.
When you travel for work, lodging expenses such as hotel rooms or Airbnb are write offs.
When you're traveling for work, all meals are tax-deductible. Even takeout!
If you work from home ...
Do you prepare floral arrangements, store your product, or maintain your professional social media from home? That qualifies you deduct part of your rent, utilities, and other home expenses.
A desk, chairs, lamps, and other home office necessities are all tax write-offs.
You can write off up to $2,500 for individual repairs to your property.
Gotta keep the lights on in your home office! A portion of your electricity bill counts.
Whether it's rental or homeowners insurance, you can write off a portion through your home office deduction.
It'd be hard to work in an office without running water, huh? You water bill counts.
Your Comcast bill is a tax write-off. You need internet to do your job!