Tax-Free Weekend Coming Soon
Jul 29, 2016 08:02AM
● By Audrey Sellers
By Pamela Hammonds
Every year, parents get a welcomed break on their back-to-school shopping expenses during tax-free weekend. On August 5 through 7, most items of clothing, footwear and school supplies—from backpacks to binders—costing less than $100 can be purchased tax-free anywhere in Texas. This also includes online purchases and phone orders.
We know shopping for your growing student can be expensive, so every little bit helps. According to the National Retail Federation, families spend on average about $630 on back to school expenses. And if you have one heading to college, that figure is close to $900.
But American Express conducted a survey of affluent families (those with household incomes of $100K or more) and found they’re more likely to spend $1,239 on back-to-school shopping as well as an average of $455 per child on after school programs. So, take advantage of tax-free weekend and save money on those must-have school supplies. Maybe you’ll save enough to take the whole crew out for supper!