What To Do With Leftover Halloween Candy

nicholas • November 4, 2016

Our office is full of leftover Halloween candy. It is hard to walk by it all day an resist grabbing something to snack on. How about you? Did you sneak a stash of your kid’s candy for personal use. Halloween candy is like Thanksgiving dinner…there is always going to be leftovers! So, Milwaukee, can that leftover candy help with your tax preparation this year?

I came across this article from one of my favorite follows, Kelly Phillips Erb, who is a writer for Forbes.

The title of this article can be a little tricky if you take it literally, but what a treat this article is to read. You can use the tax consequences in this article for any exchange of goods that apply.

A lot of this article is tongue and cheek, but #7 is actually a legitimate use for leftover candy. If you can find a qualified charitable organization that accepts candy, you can deduct the fair market value of the candy that you donate to them.

What about that costume that you wore for Halloween this year? Think you will ever use it again? If not, donate it to Goodwill and not only receive a tax deduction, but you might help out somebody looking for an affordable costume next Halloween!

While we are on the topic of charitable donations, Hammernik & Associates is jumping on board with Movember to raise awareness for men’s health. While you may be accustomed to always seeing Dale with a mustache, you might be seeing a few more mustached men around the office this month.  Donate Here!

Halloween candy and mustaches…exactly what you thought you would read about in a tax blog, right?

 

Enjoy this beautiful fall weekend!

 

Nicholas Hammernik, EA

Halloween circa 2007

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