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Merry Christmas Eve and thanks to Santa Claus for all his potentially tax-deductible work today

December 24, 2018

Santa in Macy's Thanksgiving Parade Miracle on 34th Street via GiphyKris Kringle (Edmund Gwenn in the 1947 classic "Miracle on 34th Street") gets in a little sleigh practice at Macy's Thanksgiving Day parade.

Santa Claus is already hard at work, according to the Christmas specialists at NORAD, the North American Aerospace Defense Command, who are tracking his gift deliveries. (Yes, they're on the job despite the federal government's partial shutdown.)

Santa's travels during this 24 hours of dropping off gifts for good girls and boys means he will travel around 212 million miles around the globe.

As a small business owner, that's a lot of tax-deductible mileage — presuming that the North Pole's tax system is similar to ours here in the United States.

Tax residency matters: Technically, Kris Kringle is a global citizen, since no country owns the North Pole. It sits in international waters, with the closest land being the Canadian territory Nunavut.

Some Canadians also lay claim to Santa's citizenship by pointing out that the Jolly Old Elf has a Canadian postal code: HOH OHO.

But let's not get bogged down in international disputes over the man who's responsible for so much annual joy this time of year. He and the happiness he brings is for us all!

And let's not worry about taxes either as we count down the arrival of St. Nicholas and his eight (or nine if you count Rudolph) tiny reindeer.

Post-Christmas tax moves: There will be time for that on Dec. 26, which for many is another holiday, Boxing Day. But that's for another tax-related blog post. Literally. Specifically this one.

If, however, you already need a break from your crazy uncle (and we all have one or more of those relatives!), you can get a head start by perusing these year-end tax move tips.

For most of us today, though, it's all about getting ready for tomorrow, Dec. 25.

So if you're heading out to your ultimate holiday destination, safe travels!

If you're already there, enjoy your family and friends.

And to borrow from one of the most famous literary works about the night before Christmas, "Happy Christmas to all, and to all a good night!"

You also might find these marriage related posts of interest:

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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