Redpath Insights

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Opinion: The Halloween "Parent Tax" is Unjustified

by Redpath and Company

October 26, 2017 โ€” Costumed travelers door-to-door on a crisp-aired eve of delight.

Gifts of sweets multiply and land into pillowcases, satchels, and my basket.

But the spookiest thing of all? A shriek from a casket? No, withdrawal.

The "Parent Tax", and why it is wrong:

And this is a poem, as there are few good Halloween songs.

 

All these sweets were a gift, I didnโ€™t do much in return.

A โ€˜trick or treatโ€™ greeting is not full consideration, regardless of how much candy I have earned.

 

Kind souls who gave me candy have already paid taxes that represent a proportion of their wage.

That was extremely nice,

And they should have to give far more than this for taxes to be levied twice.

 

I further shouldnโ€™t have candy taxed if I share some,

As I promised that the donors' capital contributions would be repaid with profits,

And that agreement canโ€™t be undone.

 

Had a friend made a candy loan and a debt went unpaid,

You just may have a case for deferring some weight,

But could I interest you in an orange lollipop? Or maybe a Pennsylvanian chocolate drop?

 

This candy has me feeling dandy, and whilst I feed I fulfill a need,

So crowdfunded donations without a return of equity is a tax from which I should be freed.

 

ยญยญยญยญWhat, then is the basis for this Parent Tax?

Please enjoy instead some parent snacks, like Middle Eastern fruit units of force or tomato bisque.

Iโ€™m in no hurry to put my candy at risk.

Redpath and Company

Redpath and Company

Redpath helps clients make more informed decisions that contribute to their financial well-being by providing proactive, innovative, and value-driven certified public accounting services for closely-held businesses, government entities, and not-for-profit organizations. Areas of service expertise include audit and attest; personal, business, and international tax; accounting services; entity structuring; mergers and acquisitions; valuations; succession and estate planning; state and local tax; and sales and use tax. The firm was founded in 1971 and is 100% employee owned (ESOP). With offices located in downtown St. Paul and White Bear Lake, Minnesota, the firm ranks as one of the top CPA firms in the Twin Cities with over 180 employees. Redpath is a member of HLB International, a global network of independent advisory and accounting firms. For more information, visit redpathcpas.com.