- Days left

State sales tax holidays are your opportunity to save

You've been putting your money in the bank rather than spending it, but the time is coming when you'll have to bite the bullet and buy those school clothes, that new stove or a computer for your job search.

If you live in a state that offers a sale tax holiday, you can save a bundle by postponing those purchases a little longer.





The Federation of Tax Administrators has compiled a list of the tax-free dates (and probable dates for the states that haven't officially announced yet.) For example,

  • Residents of Missouri don't have to pay sales tax on August 7-9 on clothes (up to $100), computers and school supplies.
  • Louisiana residents can buy hurricane preparedness supplies free of sales tax on May 30-31.
  • Texans pay no sales tax on energy-star compliant products on May 23-25. Virginians get the same deal on October 9-12, and West Virginians from September 1 to November 30.
  • North Carolina citizens get clothes, school supplies, instructional materials, sports equipment and computers sales-tax free on August 7-9.
  • South Carolina shoppers get $2,000 worth of tax-free buying on August 7-9.

Check here to see if your state offers a window of opportunity for you to dodge state sales tax and save.


Increase your money and finance knowledge from home

Timing Your Spending

How to pay less by changing when you purchase.

View Course »

Understanding Credit Scores

Credit scores matter -- learn how to improve your score.

View Course »

TurboTax Articles

Deducting Summer Camps and Daycare with the Child and Dependent Care Credit

If you paid a daycare center, babysitter, summer camp, or other care provider to care for a qualifying child under age 13 or a disabled dependent of any age, you may qualify for a tax credit of up to up to 35 percent of qualifying expenses of $3,000 for one child or dependent, or up to $6,000 for two or more children or dependents.

Video: Who Qualifies for an Affordable Care Act Exemption (Obamacare)?

The Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? Find out more about who qualifies for an exemption from the Affordable Care Act tax penalty, how to claim an exemption on your tax return and how the Affordable Care Act may affect your taxes with this video from TurboTax.

What Is Schedule H: Household Employment Taxes

If you hire people to do work around your house on a regular basis, they might be considered household employees. Being an employer comes with some responsibilities for paying and reporting employment taxes, which includes filing a Schedule H with your federal tax return. But even if you have household employees, filing Schedule H is required only if the total wages you pay them is more than certain threshold amounts specified by federal tax law.

Taxable Income vs. Nontaxable Income: What You Should Know

Knowing what to claim as taxable and nontaxable income can reduce your tax liability. Income can be acquired in many forms, including wages, salaries, interest, tips and commissions. ?Consider all money that increases your wealth as taxable,? advises accountant Caroline Thompson. ?There is very little that is nontaxable. The government specifically lists anything that is not taxable and the circumstances that must exist or occur for it to be non-taxed income,? she adds.

What Are the Tax Penalties for Smokers?

Starting in 2014, the Individual Shared Responsibility provision of the Affordable Care Act made you responsible for having minimum essential coverage, or MEC, in health insurance. Otherwise, you need to be eligible for a health care exemption, or you could pay a penalty when filing your income tax return. This requirement for minimum essential coverage applies to smokers and nonsmokers alike. If you?re not covered by an employer's health plan and are a smoker, you can go to the health care marketplace to find MEC. If you?re still unable to comply, you may have a penalty applied.

Add a Comment

*0 / 3000 Character Maximum