Save Money on Back to School Shopping with Tax Free Weeks
Categories: Family & Money
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You might notice that parents have a little extra spring in their step—the kids are heading back to school soon!
But it also means the extra expense of back to school shopping. So today we want to share some tips for making back to school shopping a little easier on your wallet.
Many states offer sales tax exemption days as a way to help stimulate their economies. The exemptions apply to items related to back to school expenses and are only up to certain amounts.
Here are some easy ways to take advantage of the tax exemption and making sure it saves you the money it was intended to…
Find out if and when your state is offering tax exempt days, then find out what exactly is tax exempt and how much you can spend. The differences are huge from state to state. Here are just some examples:
- Texas Aug. 20-22 — Clothing, backpacks and school supplies worth $100 or less.
- Virginia Aug. 6-8 — School supplies worth $20 or less. Clothing worth $100 or less.
- Tennessee Aug. 6-8 — Clothing and school supplies worth $100 or less. Computers worth $1,500 or less.
- Florida Aug. 13-15 — School supplies worth $10 or less. Clothing and books worth $50 or less.
- Illinois Aug. 6-15 — Clothing, footwear and school supplies worth $100 or less.
- Connecticut Aug. 15-21 — Clothing and footwear worth $300 or less.
- Maryland Aug. 8-14 — Clothing and footwear worth $100 or less.
- Mississippi July 30-31 — Clothing and footwear worth $100 or less.
Check your state’s website for details, or for a complete listing of state by state dates and details from the Federation of Tax Administrators go to: http://www.taxadmin.org/fta/rate/sales_holiday.html
Print your state’s list out and bring it with you so you know exactly what your limitations.
If your state is not offering tax exemptions consider state around you that are, but take into account that the cost of gas could cost as much money as you save.
Sticking to a budget and keeping to a list are always easier said than done but essential to taking advantage of this offer. Don’t let what is essentially a 4%- 6% discount is not enough to justify splurging on designer items or the purchase of a luxury item. Retailers know you will be out to buy and in the mindset that you are saving money. So expect them to pull out all the stops to try and entice you into some impulse shopping.
Compare prices at different retailers before you leave. Sites like Pricegrabber.com and Smarter.com can show you where you will get the best prices on the products you need before you go. Saving you time, gas and Money.
One more tip: Figure out if you can save on more than just school supplies. Maryland allows the purchase of shoes and clothing up to $100 tax free while Connecticut offers the same items but up to $300 tax free. North Carolina allows the purchase of sports or recreational equipment up to $50. And West Virginians can purchase appliances up to $5000 with no state tax.
Here are a few more ways to save money as your kids or grandkids head back to school: Save Money on College Students Heading Back to School



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