There are numerous legal ways to deduct your business expenses during for Halloween season. You can deduct Halloween candy, decorations, anything that you can make BUSINESS-RELATED.
How to Write-Off Candy
The simple trick a lot of businesses use is the branding method. They take something that they want to use for their business and put their logo on it. A great example would be buying candy or other promotional products that you want to give to your clients or the community, then attaching your business card or something with your company image on it.
Deductible business expenses are considered to be ordinary and necessary. Boosting sales, creating client connections and will overall promote your business. If you decide to host a company Halloween party like “The Office”, that’s not dedutible. YOU HAVE TO HAVE MORE THAN JUST EMPLOYEES THERE, for these expenses to be tax deductible. Clients, Potential Clients and Family should be invited to get that write-off.
Alright, the party is over, what do you do with excess candy? You can donate the unused candy to Nonprofits and other tax-exempt organizations, according to the IRS. More deductible Halloween expenses follow the same guidelines as candy.
Sadly, individuals or W2, wage earners can not deduct these expenses.