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Monday, May 12, 2008

The advertising value of taxes

What are taxes good for? The answers vary depending upon who you ask.

But for retailers here in Austin, they're good for ad campaigns.

In addition to television ads by local furniture stores promoting "tax-free" sales of couches and chairs and whatever knickknacks you want or need for your home, a jeweler sent out a multi-page mailing last week with this message:

Jeweler_tax_ad_gas_sales_holiday_3

Texas does have a state sales tax holiday; I'll be writing more on it and the dozen or so others coming up later this summer. But I guess sales are a bit slow everywhere, so some businesses, based on their ads, are willing to cover the sales tax on all purchases themselves just to get more people into the stores right now.

And that  "gas credit" pitch is inspired. Based on local pump prices, that'll get you around seven gallons, more than enough to cover the drive to and from the store.

Posted at 09:27 AM in Business, State/Local, Tax holiday, Taxes |

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2008 Tax Guide

July 2008

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Tax Calendar

  • tax season 2008

    The first filing deadline has come and gone. But if you got an extension, mark Oct. 15 on your calendar. Until then, stick around. We'll help you finally finish your 1040 and keep an eye on the other tax dates below.

    July 1: You're halfway through the year. Now's the perfect time to make some midyear tax moves that could cut your 2008 IRS bill.

    July 4: Celebrate your independence from tax hassles. Hire a tax professional now to help get your tax life in shape.

    July 10: Does your job include tips? If so and you received $20 in tips in June, use Form 4070 to report them today to your employer.

    July 16: Are your kids at day camp while you work? You might be able to use that expense to claim the child and dependent care credit. dependents on your tax return.

    July 23: If, however, your kids have summer jobs, make sure they understand their tax responsibilities.

    July 24: You can help your youngster get a nest egg head start by helping him or her open a Roth IRA with some of those summer earnings..

    July 31: Speaking of retirement plans, if you have a retirement plan (other than a SEP or SIMPLE IRA) with more than $100,000 file a Form 5500 or Form 5500 EZ by today. Need more time? File an extension and move the deadline to Oct. 15.

    July Small Business Tax Calendar: Key filing, deposit and record keeping dates your company needs to know.

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