Story Created:
Aug 18, 2009 at 6:50 AM CST
Story Updated:
Aug 18, 2009 at 6:50 AM CST
(August 18, 2009)
Main Topic: Planning is the key to making this coming weekend profitable under the tax Free weekend.
The Texas Legislature passed a bill (HB 1801) this year expanding the list of items that qualify for exemption to a majority of school supplies
The full list can be found at:
The state's 11th annual tax-free weekend exempts most clothing and footwear, saving shoppers about $8 for every $100 they spend.
Most clothing and shoes priced less than $100, with some exceptions, can be purchased tax free. Some tax-free items include coats, diapers, hooded shirts and sweatshirts, jeans, suits and underclothes. But shoppers will still have to pay taxes on things like wallets, watches, handbags and jewelry.
Customers will receive the break on individual items, regardless of the amount they buy.
Clothing and footwear used primarily for athletic activities or for protective wear are not eligible for the exemption. But athletic wear that is also used for other non-athletic activities does qualify for the tax exemption.
Accessories such as jewelry and watches are excluded and will be taxed, as well as items that are carried rather than worn, including handbags, briefcases and wallets. Backpacks are taxed unless they will be used by elementary and secondary school students.
BBB also offers the following tips to help make back- to- school shopping seem less like detention and more like recess:
- Set a budget. Parents should create a back-to-school budget and determine how much they will spend on each child. Include each child in the process of creating the budget and allow them to offer input on how much they think should be spend on each item.
- Make sure your items qualify. Print a copy of the list of tax-free items to make certain you receive the savings.
- Take inventory. There may be leftover supplies from the previous school year that can be used.
- Shop with a list. This will help you stick to your budget, avoid costly impulse purchases, and also ensure that you aren't forgetting important items.
Scheme of the week: We have two today: Phony Debt Collectors and Student Testing Software Scheme
Phony Debt Collectors
An alert about phony debt collectors that call consumers and claim they have defaulted on a payday loan and will be arrested if they don’t pay immediately. Claiming to be lawyers, the scammers say they are with some sort of agency. They also have a surprising amount of personal information about their victims. Because the scammers have so much information about these people, BBB is concerned that they may have stolen this information from a database. The phony debt collector threatens that if the victim doesn’t pay as much as $1,000 via wire or by providing bank account or credit card numbers, he or she will be arrested and extradited to California within the hour to stand trial.
The SAT and ACT Prep Center, Inc.
According to complaints, parents of high school students who are planning to take the upcoming SAT and ACT college admissions tests are being misled by one test preparation service. There have been 119 complaints concerning “The SAT and ACT Prep Center Inc.”. Complaints allege that telephone sales from the Center falsely stated that their son or daughter had asked to get test preparation software for the college admission tests through their local high school. The cost of the software is $120 plus a monthly fee. The company has a BBB rating of “F” due to the number of unanswered complaints. In July the Texas Attorney General filed an enforcement action suit against the company and the case is currently pending.
