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How does Santa Claus Manage to Save Taxes

Dec 23, 2017 | 2 years ago | Read Time: 3 minutes | By iKnowledge Team

Santa Claus always reminds us of our childhood. Do you remember waiting around your Christmas tree until the wee hours of the morning only to fall asleep in anticipation? The wait was usually the best part. Every Christmas morning you would be delightedly greeted with presents that magically appeared around your tree, leaving you confused at how they presented themselves there. However, your questions were usually answered by the works of Santa Claus.

How does Santa Claus Manage to Save Taxes

Santa Claus was always everyone’s favourite character. The mystery that comes along with his good doings was always something that kept one hooked onto the idea. All the stories you heard about him crawling down your chimney, with a red bag full of gifts made you wonder how Santa managed to get so many gifts.

Given that there was only one Santa Claus, but so many children longing to receive the gifts, you could take a moment to ponder about Santa’s finances. Does Santa not have to pay taxes? How does he have so much money to get gifts for everyone? Well, we should credit our favourite Christmas character with some intelligence. Here are a few ways Santa can save his taxes and provide every child with a beautiful present:

  1. Auspicious Anonymous Associates – Santa has a lot of work to finish on Christmas day. He has never denied any help that he gets. Santa has many friends who wish to help him in his mission of spreading smiles and joy. Thus, various auspicious anonymous associates send money to Santa. Mr Claus in turn will use that money to gift children!
  2. Selling and Spreading Smiles – If you want to help Santa like many other children do, all you have to do is start selling items. Next time you are clearing out your closet, you can sell the items that you do not wear anymore. Use all the gains from that sale and give it to Santa. Since this money is coming from your warm hearts full of promise and care, Santa will not have to pay taxes for this!
  3. No Income No Problem – Since Santa’s job is not similar to ours where we receive a monthly income, he is not privy to any monthly me tax either. Iinconcome tax to the common public is a compulsion by law, but Santa does not consider his service to be a job, he does not have to pay that 7% income tax!
  4. The Art of Gifting – Santa’s prime duty is to gift his ‘little angels’. However, every now and then Santa also receives gifts. For gifts received in the form of money, Santa will not have to bear the brunt of paying taxes.
  5. Immaterial Pleasures – Who said that gifts are always materialistic items that cost a lot of money. Santa has a big heart. For those who do not have large demands and are happy with what they have, Santa also extends thoughtful gifts to them.

Thus, this is how Santa becomes the biggest and most efficient financial planner of the year! If you wish to share the same spirit, you could learn a thing or few from our dearest Christmas Character!

Want to know your taxes? Access our easy to use tax calculator, and plan your finances.

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