Good news! You don’t have to wait until Christmas to start taking advantage of holiday business deductions. If done right, you can write off all of those Halloween goodies from your small business bookkeeping, too.
- Make a promotion out of your treats. You know you’ll be buying them anyway. If not for the office staff, then for all of the cute little witches and vampires that are sure to show up at your business. Make Halloween candy tax deductible by attaching a business card or flyer promoting your business.
- If you’re really in the spooky spirit this year, order candy with your logo on it. An even better way to promote your business and still have something for trick-or-treaters. This company will do it for you and have it delivered before October 31st.
- Treat your current and potential clients. They’re undoubtedly overloaded with goodies during the Christmas season, but sending a box of chocolates in October may stick in their mind better as an early (and unexpected!) surprise.
- Donate your leftover Halloween treats. Charitable organizations with 501(3)c status like Operation Gratitude and Soldiers’ Angels collect leftover Halloween candy to include in care packages for soldiers. They are two of many 501(c)3 organizations on the IRS-approved list to donate tax deductible charitable goods. Always be sure to check the IRS list before claiming your donations are tax deductible, as status can change. Read more about that here.
- Throw a party. You can deduct a portion of a Halloween party if the party is to conduct or promote business. Typically this looks like an open house of some sort where you mingle with current and potential clients, play a few Halloween games, give out candy and treats, and discuss business.