Tax Free This Weekend! Just In Time For Back To School Shopping!!
Published: Thursday, Aug. 05, 2010 / Updated: Wednesday, Aug. 04, 2010 06:36 PM
Is the tax-free weekend really a true benefit?
Jennifer Panther
Most of us are getting ready to send our children back to school, and many of us have put off the dreaded “back-to-school” shopping until now. Whether our children are going to college or to kindergarten, there is always a list of items needed that seems to put a hole in our wallets. Back-to-school shopping frustrates most of us as it becomes more and more expensive every year. With the change in the current economy, you would think there would be a discount provided for education. Well, there is. S.C.’s Sales Tax Holiday is this Friday through Sunday. Does the tax-free weekend truly provide a savings that we benefit from? Absolutely. Money we would have spent on taxes now will stay in our pockets. This famous weekend excites many people in South Carolina as they know there will be a considerable savings on a lot of different and much needed items. Many states do not participate in a tax-free weekend or only let the savings apply to a very minimal list of items. So what is included? Here is just a small list of items that are exempt from sales tax: Clothing, school supplies, computers and printers. If you do not have children in school, you still can use this tax-free weekend for household items such as bath towels and bed comforters. Baby items such as diapers, clothes, bibs and shoes also are included. For a complete list of all items you can purchase tax-free, go to sctax.org. When you think of 7 percent saving on an individual item, it might not look like much. But look at the savings on your overall purchase. For example, if you were to spend $250 on clothing, you would save $17.50, which could go to other items you need such as paper, pencils and notebooks. Before you head out to the stores, make sure you do a few things so you don’t overspend:
First, clean out your kids’ closets. Take inventory of what you will need to buy. Donate items that no longer fit. Keep the receipt for the donations and use it as a tax deduction.
Next, make a list of the “must-have” items for clothing and school supplies. Determine what your budget will be so that you have some cost control in the stores. You don’t want to be swept away with impulse buying.
Last, look in the paper for sales on items you need before you shop. You also can check the websites for the stores you plan to visit to see if they have any coupons available.
Get your family off to the right start this school year by saving money.
Read more: http://www.heraldonline.com/2010/08/05/2360358/is-the-tax-free-weekend-really.html#ixzz0vkLhxWnS
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