When we undertake organization of conferencesIt is advisable that we are aware of the responsibility that rests on us. Hence, it is important to finish the project on the "last button". It is not only about choosing the right place, but also about accounting for conference costs and categorize them accordingly.
Accounting for conference costs
A conference - regardless of whether it is an advertising conference or a representative conference - is always a showcase for our company and brand. Certainly it is also a place for industry meetings and establishing valuable contacts, so it should be prepared in a thoughtful manner, which will allow you to present your brand in the best possible light. And this is connected with costs, and not inconsiderable ones at that. However - there is an income tax deduction for conference expenses.
Conference costs also affect employers
It is worth noting that the costs of conferences affect not only their organizers, but also employers who fund their employees to go to the conference. So how do you account for conference expenses? In answering this question, the first thing to determine is, what function the conference serves for our brand - Whether it is a representative or advertising function.
The cost of the conference can be subsumed under advertising
Usually, the overarching purpose of a conference is to showcase your brand, products or services to attract new customers. Therefore, this type of events have an advertising character. Hence - the costs of the conference can be included in the advertising, which means deductible. It should be noted, however, that this is the case only if the conference has an advertising character. If the purpose of the conference is to represent the company - the costs incurred do not have such character.
Tax cost of the conference
Tax cost are costs connected with renting a hall, space or a stand (provided that they are connected with business activity and serve to secure or preserve a source of income). Similarly, the cost of flyers or other gadgets with the company's logo that we hand out to our guests can be deducted from tax. We can treat these expenses as deductible. In turn Meals, alcohol and non-branded gifts that we give to our guests are entertainment expenses.