Being a self-employed or freelance florist comes with its own set of financial challenges, but it also opens up a world of opportunities for tax write-offs and deductions. Here's a bouquet of deductions that can help you keep more of your hard-earned money.
Advertising is a crucial part of any florist's business. It can include anything from online ads to flyers and billboards. The cost of these advertising methods is fully deductible.
Write it off on Schedule C, Box 8.
Did you have a meal with a client or potential business partner? The cost of business meals can be partially deducted. Just remember to keep your receipts!
Write it off on Schedule C, Box 24b.
If you use your car for your florist business, you can deduct the cost of car insurance and registration. This includes if you use your car for deliveries or to travel to clients.
Write it off on Schedule C, Box 15.
Keeping your vehicle in tip-top shape for those flower deliveries? The cost of maintenance, including oil changes and tire rotations, can be deducted.
Write it off on Schedule C, Box 9.
If you've purchased a car for your business, you can deduct the cost over time through depreciation. This can be a significant deduction, so don't overlook it!
Write it off on Schedule C, Box 13.
Did you hire a graphic designer for your website or a photographer for your portfolio? The cost of creative assistance is fully deductible.
Write it off on Schedule C, Box 11.
Those flower coolers and design tools aren't going to last forever. The cost of your equipment can be deducted over time through depreciation.
Write it off on Schedule C, Box 13.
From shears to vases, the cost of your florist tools and supplies is fully deductible. This can add up to a significant amount, so keep track of these expenses!
Write it off on Schedule C, Box 38 (COGS).
If you have a home office for your florist business, you can deduct the cost of furniture. This includes desks, chairs, and even decorative items.
Write it off on Schedule C, Box 18.
Those beautiful blooms you buy for your arrangements? They're considered inventory, and the cost is fully deductible. Same goes for any samples you create.
Write it off on Schedule C, Box 36 (COGS).
If you travel for your business, you can deduct the cost of meals. This includes meals while attending trade shows or meeting with out-of-town clients.
Write it off on Schedule C, Box 24a.
Those pretty boxes and ribbons you use to package your arrangements? The cost is fully deductible. So is the cost of shipping if you deliver your arrangements.
Write it off on Schedule C, Box 27a.
If you pay for parking while conducting business, you can deduct these costs. This includes parking at client locations or at your place of business.
Write it off on Schedule C, Box 27a.
If you use part of your home for your florist business, you can deduct a portion of your power bill. This includes the cost of keeping your flower coolers running.
Write it off on Form 8829.
If you have insurance on your business property, you can deduct the cost. This includes insurance on your home if you use part of it for your business.
Write it off on Form 8829.
Had to fix a leaky roof or a broken window in your business property? You can deduct the cost of these repairs.
Write it off on Schedule C, Box 21.
From gloves to aprons, any protective gear you use for your florist business is fully deductible. Safety first, savings second!
Write it off on Schedule C, Box 22.
If you pay tolls while conducting business, these costs can be deducted. This includes tolls for deliveries or travel to clients.
Write it off on Schedule C, Box 27a.
Whether you're driving to meet a client or flying to a flower show, you can deduct your transportation costs. Just remember to keep track of these expenses!
Write it off on Schedule C, Box 24a.
If you travel for your business and need to stay overnight, you can deduct the cost of your lodging. This includes hotels, motels, or even Airbnb rentals.
Write it off on Schedule C, Box 24a.
If you have a tool kit in your vehicle for your florist business, you can deduct the cost. This includes tools for emergency repairs or routine maintenance.
Write it off on Schedule C, Box 22.
If you use part of your home for your florist business, you can deduct a portion of your water bill. This includes the cost of watering your flowers.
Write it off on Form 8829.
Every modern business needs a website, and florists are no exception. The cost of your website and hosting fees is fully deductible.
Write it off on Schedule C, Box 8.
If you use Wi-Fi for your business, you can deduct a portion of the cost. This includes the cost of internet used for business purposes at your home or office.
Write it off on Schedule C, Box 25.