August 3, 2009

Tax-Free Holidays - Don't Miss Them!!

How do you know the summer is over? Check the stores and if they are packed... it must be a tax-free holiday for back to school items. It happened this past weekend in Georgia and Mississippi, and it is important to try to make the most of it.

Some counties in Georgia actually start school TODAY. My wife's county, Gwinnett, has pre-planning this week, then school starts next Monday. Yes, as she always says, "The party's over..."

For those educators around the country, plan your supply shopping around the tax-free weekends if possible because even though you only save on the sales tax, many retailers are also using it as a way to promote sales of other various items.

Below is a list of the states with tax-free weekends, the dates, and a link to each state website giving details on how you can save. Good luck!


Anonymous said...

I am a retired fireman and have been following this issue for the past 5 years. Like you every year I see a big dog and pony show where our legislators try to convince us that they are serious about fixing this unjust law.
Nothing ever gets out of committee.
I understand that the real issue is the money. They don't want to have to give back the money they are steeling from us with this law.

What I don't understand is if money is really the issue then why are the legislators trying so hard to pass a law giving illegal immigrants social security and unlike me they wont have penalties applied to them.

Robert (Robby) E. Schultz III, CFP®, ChFC®, CPWA® said...

Thanks for your comments, but I believe you are talking about the WEP/GPO and not tax-free holidays.

Anyway, I can tell you that if an immigrant (illegal or not) were to receive SSA benefits, they would also be subject to the WEP, if necessary.

Just last week someone emailed me a question regarding his pension from another country. Even though he paid in 15+ years to SS also, he was subject to the WEP because of his pension from his previous country.

I understand the problems and questions from both sides, and it really is a tough call from a monetary point of view. At the same time, I believe that most of the people affected are those that were not out to enrich themselves, so they should not be hurt by the provision.

Who knows where it will go, but thank you for your past service, and I hope Congress does make some decisions.