Trick or Treat is a child’s first sales pitch. Parents, make no mistake that Halloween is a business with transactions, and as with all transactions there are taxes. When you are sorting your child’s candy, it is a good time to teach them about taxation, so don’t forget to take a certain amount of candy as withholding. 15% is the standard with 21% recommended. Now they can put in for a refund which you can designate through chores completed with refund applied at Thanksgiving.
Have a fun and safe Halloween everyone.