re: YouTuber MrBeast said he was handing out bundles of $10,000 to trick-or-treaters

quote:

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Cost of doing business so it would be able to be classified as a normal business expense to offset ad revenue.

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For what little its worth, this is an incorrect idea. You can't spend or give away money to save money. It simply doesn't work that way. That logic means that taxes are great then 100%....

You save on taxes by buying "personal" items like a work vehicle or work computer for yourself through your business. But you still pay for it and its still going to cost you more then your taxes, so you would have had more money not buying it at all.

ETA: Sorry for the rant, my mom says that shite all the time. "oh he just wrote it off as a business expense". Its still a fricking expense that costs money.