Questions About Purchasing Show Ingredients

[akrebecca]

I have started purchasing the food supplies for my shows & having the host reimburse me. I am doing this for a couple reasons. Service for the hosts and it costs less. Quite a few times the 'cheap' recipe costs more than I think it should. I do give a choice-right now I am doing comfort foods & amazing race. Gives me a chance to hit the sales & use coupons etc... I have had several hosts say thanks because they don't have to do the shopping.

So, my first question is how do you separate the food from your house food. Or do you incorporate the food into the pantry/fridge and buy misc stuff you need-like the pizza dough for the calzones.

If you have the hosts reimburse you, can you write the cost off on your taxes? (I am thinking no because you are being reimbursed)

Slightly off topic. I read/heard somewhere, but now can't find it, that we can write off a portion of our food bill because we are practising with our PC tools. Is this true?

 

[raebates]

You can't write off the amount you're reimbursed.I was told that you can write off two makings of any PC recipe as an expense. It's considered practice.

 

[sarahsellcm]

I buy the food for my shows and suck up the expense. It is an expense for my hosts and sometimes it is the reason they don't want to host. I take that objection away and I know I am getting the right ingredients. I keep all my receipts because it is an expense for me for my business. I met another girl who did this and said it helped her business greatly and this year it has really helped me this year. I did it last year and it really didn't cost me that much.

 

[darlinclem]

I buy the food for my shows and suck up the expense. It is an expense for my hosts and sometimes it is the reason they don't want to host. I take that objection away and I know I am getting the right ingredients. I keep all my receipts because it is an expense for me for my business. I met another girl who did this and said it helped her business greatly and this year it has really helped me this year. I did it last year and it really didn't cost me that much.

I have been doing this for a couple of years. I have hosts thank me for it all the time. I just tell them that with a $300 party I pay, anything less and they owe me for the ingredients. It is an extra incentive for them to get orders. I like knowing what I am using for ingredients is going to work for me. I'm a little OCD that way I keep the receipts and write it off on my taxes as a show expense.

 

[AnaCash]

Hi there! It's great to hear that you have found a system that works for you and your hosts. I personally like to keep my food supplies separate from my household supplies, so I have a designated area in my pantry and fridge for my PC ingredients. That way, I can easily keep track of what I need to restock and it also helps me stay organized when preparing for my shows. In terms of reimbursement from hosts, I am not a tax expert so I cannot give you a definite answer. However, I believe it would depend on the specific tax laws in your area and how you are reporting your income and expenses. I would recommend consulting with a tax professional for more information.As for writing off a portion of your food bill, I am not aware of any specific tax deduction for practicing with PC tools. Again, it would be best to consult with a tax professional for more accurate information. Thank you for bringing this up, though - it's always important to stay informed about potential tax benefits for our businesses.