AUSTIN, TX – Texas Comptroller Glenn Hegar reminds shoppers they can save money on certain items during the state’s annual sales tax holiday. This year, the sales tax holiday is scheduled for Friday, Saturday and Sunday, Aug. 11-13. The law exempts most clothing, footwear, school supplies and backpacks priced below $100 from sales tax, saving shoppers about $8 on every $100 they spend during the weekend. “Most folks won’t hear the back-to-school bell for another month, but it’s never too early to take advantage of the opportunity to save money on everything from ball caps to ballpoint pens,” Hegar said. “As the father of three young children, I know how these expenses can add up.” Lists of apparel and school supplies that may be purchased tax-free can be found on the Comptroller’s website at TexasTaxHoliday.org. This year, shoppers will save an estimated $87 million in state and local sales taxes during the sales tax holiday. Texas’ tax holiday weekend has been an annual event since 1999.
The IRS’s efforts to combat tax ID theft are paying off. Complaints of ID theft fell 46% for the 2016 tax filing season. That does not mean you should be complacent about ID theft as it remains a common problem and can create significant issues for you. Identity (ID) theft is a crime where a thief steals your personal information, such as…Read More
I know it seems like the ink has barely dried on your 2016 taxes, but remember that the best time to plan for your taxes is 365 days a year. Now that summer is here, thoughts are probably turning to barbecues and beaches, not necessarily taxes. But now that we’ve reached the mid-way point of 2017, it’s the perfect time to review…Read More
The financial website NerdWallet, Inc. quizzed Americans on their tax knowhow this past January and determined that taxpayer’s lack of knowledge costs them big bucks in lost opportunities and penalties. Here are a couple of common examples. Many believe that If you file for a tax extension beyond this year’s April 18 deadline, you can hold off on paying any tax liability…Read More
If you gave money or goods to a charity, you may be able to claim a deduction on your federal tax return. Here are some important facts about charitable donations: Qualified Charities. Taxpayers must donate to a qualified charity. Gifts to individuals, political organizations or candidates are not deductible. To check the status of a charity, use the IRS Select Check tool.…Read More