Take Advantage of Tax-Free Shopping!
Don't you just love when you can save money on the dime of the government? We do, too! Tax-free "holidays" are one terrific way to do just that. Every year in August or September, select states offer a sales tax-free weekend or week. This is great news for parents trying to stock up on back-to-school supplies!
Many states are just kicking off their tax holiday now, so check out the table below to see if your state is participating:
State |
2008 |
For More Information |
Alabama |
August 1-3 |
|
Connecticut |
August 17-23 |
|
District of Columbia |
August 2-10 |
|
Georgia |
July 31 - Aug. 3 |
|
Iowa |
August 1-2 |
|
Louisiana |
August 1-2 |
|
Massachusetts |
August 16-17 |
|
Missouri |
August 1-3 |
|
New Mexico |
August 1-3 |
|
North Carolina |
August 1-3 |
|
Oklahoma |
August 1-3 |
|
South Carolina |
August 1-3 |
http://www.sctax.org/ |
Tennessee |
August 1-3 |
|
Texas |
August 15-17 |
|
Virginia |
August 1-3 |
Some states participate in this tax-free holiday at other times during the year - some even more than once! For a complete listing and for more information, click here.
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Child Savings AccountsWhen opening a savings account for your child, make sure their Social Security number is used as the account's tax identification number. That way, as long as your child is under age 14, interest earned will be taxed at your child's lower tax rate, not at your tax rate. This rule holds true as long as your child earns less than $1,800 a year in interest. |
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