As a business owner, you understand how crucial it is to express gratitude to your loyal clients. What better way to accomplish this than with a gift that qualifies for a tax deduction? The Yankee Candle fundraiser fills this need. It is not only a wise business expense but also a terrific way to help your neighborhood. In this post, we’ll answer the question is the Yankee Candle Fundraiser tax deductable? Furthermore, we will discuss the tax benefits of a candle fundraiser and the excellent corporate presents that Yankee Candles make.
Can you write off candles as a business expense?
Nonprofits should always reach out to sell their candles to local businesses. Did you know that a local company can buy 10 times what an individual may purchase> This is because a business often buys a gift at the end of the year to express appreciation for their best customers. This is a nice secret to multiplying your profits to reach your candle fundraising goal.
However, a commercial businesss owner may wonder… Can i write this off as a business expense? Is the Yankee Candle Fundraiser Tax Deductible?
Have you heard about the IRS $25 business gift rule?
The Yankee Candle fundraiser is tax deductible, first things foremost. The quick response is “yes”! Gifts provided to clients or customers that cost less than $25 per person are regarded as tax-deductible business costs, according to IRS regulations. It also qualifies for this tax credit because each Yankee Candle sold through the fundraiser only costs $20. However bear in mind that this tax deduction is subject to certain restrictions. For instance, you cannot write off presents that cost more than $25 per recipient as company expenses, nor can you write off gifts that you give to yourself or your family.
Why do Yankee Candles make great corporate gifts?
After confirming that the Yankee Candle fundraiser qualifies for a tax deduction, let’s discuss why Yankee Candles make excellent corporate gifts. For starters, they are a reputable, high-quality brand that your clients will undoubtedly love. Also, you may select the one that best suits your company and your clients because they are available in a range of smells and sizes. Additionally, because candles are consumable goods, your consumers will probably finish them off and buy more, which means they’ll think about you every time they light a candle. This also helps your school, team or nonprofit because they will buy more next year!
But, the Yankee Candle fundraiser’s win-win nature may be its best feature. You not only get to help out your neighborhood and give your clients a kind gesture, but you also get to reduce your tax liability. It’s a wise business expense that can help you maintain control of your funds and gain the trust of your clients.
Talk to a tax pro
We should point you that as we aren’t tax experts, we are unable to provide you with personalized tax advice. A CPA or tax accountant should always be consulted to ensure that you are adhering to local laws and regulations. But generally speaking, the Yankee Candle fundraiser is a wise option for business owners who want to express their gratitude to their clients while simultaneously benefiting from tax advantages.
In conclusion, the Yankee Candle fundraiser is a great way for business owners to support their local community, give their customers a thoughtful gift, and save money on taxes. With Yankee Candles priced at just $20 per gift, it’s an easy and affordable way to show your appreciation. So why not sign up for the Yankee Candle fundraiser today, and start making a list of all the business owners you know in your area? Your customers (and your wallet) will thank you for it!
