Wednesday, November 27, 2013

Thrifty Thinking: Avoid Holiday Credit Card Hangover

The Tax Defense Network is a Better Business Bureau A+ rated tax resolution company. Their tax and financial planning specialist have these tips for not getting into trouble with credit card debt over the holidays. Since 1997, its team of licensed tax professionals, enrolled agents, and CPAs has resolved over $120 million in tax debt. Their job is to help clients get out of debt issues, so they know how to help you avoid common credit obstacles.

1.      Buy online: Currently, there is no internet sales tax. Online retailers are only required to charge sales tax on goods shipped to states where they have a physical presence. But act fast, because Congress is looking to change this by passing a law that would require online retailers to collect sales tax for the states where the goods are shipped.
2.      Look for free shipping: Many online stores offer free shipping with a minimum purchase. You can save a bundle on shipping by taking advantage of this. Also, December 17th is Free Shipping Day: More than 1,000 merchants offer free shipping with guaranteed delivery by Christmas Eve. Perfect for procrastinators looking to save some money in shipping costs!  
3.      Consider traveling out of state: Save on sales tax by doing your holiday shopping in a state with a lower rate. When making large purchases, a lower sales rate will help you keep some money in your pocket and make the drive out of state worth it. Delaware, Oregon, New Hampshire, Montana and Alaska have no sales tax at all, while other states, like New Jersey, Minnesota, and Vermont, have no sales tax on clothing. 

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