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Recognizing that we're at least halfway through summer vacation CAN be a prompt to start thinking about back-to-school planning! There's no need to shift into high gear yet, but planning ahead is always beneficial. In Iowa, as in many states, we have an annual Sales Tax Holiday -- two days in which NO sales tax is charged on most purchases of clothing. The 2010 Iowa Sales Tax Holiday is scheduled for Friday and Saturday, Aug. 6 and 7.
On those two days, most ordinary clothing items priced under $100 qualify for the sales tax exemption -- not just for school children but for all family members. Many retailers offer sale prices that weekend as well, increasing your total savings. For all the details, check out the official website: www.iowa.gov/tax/educate/holiday1.html
In the weeks between now and Aug. 6-7, you can prepare in two key ways:
1) Identify what items you might need and want to purchase.
2) Start saving money! (If you don't save, then you may end up using credit. Use of credit can turn a "bargain" into a bank-breaker, with interest charges adding up to much more than the 7% or so that you saved on sales tax!)
Read more of this story in the July 24 Pilot Tribune.
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