Shop Maryland Tax-Free Week: How to Maximize Savings and Boost Local Business
Back-to-School Savings Start Now!
Shop Maryland Tax-Free Week is a golden opportunity to save on essentials while supporting local businesses. From August 11-17, 2024, Maryland will suspend its 6% sales tax on qualifying items under $100. Whether you’re a parent preparing for the school year or a savvy shopper looking to stretch your budget, this week is your chance to capitalize on incredible savings.
The Benefits of Shopping Local
Support Your Community While Saving Money
Shopping local during Tax-Free Week isn't just about saving on taxes; it's about investing in your community. Local businesses are the backbone of Maryland's economy, and your purchases help keep them thriving. By shopping at neighborhood stores, you’re not just snagging a deal—you’re supporting jobs, fostering community connections, and ensuring that more money stays within your local economy.
Tip: Check out locally-owned businesses that carry unique items you won’t find in big-box stores. You might just discover a new favorite spot while saving some serious cash.
How to Maximize Your Tax-Free Savings
Plan Ahead to Get the Best Deals
The key to making the most out of Shop Maryland Tax-Free Week is preparation. Start by making a list of essentials you need, especially items that are typically more expensive like school uniforms, shoes, and winter coats. Remember, the tax exemption applies to each individual item under $100, so don’t hesitate to purchase multiple qualifying items.
Actionable Tip: Combine tax-free savings with store sales and coupons for double the discounts. Many retailers will offer additional promotions during this week, so be sure to do your homework and compare deals.
Don’t Forget Online Shopping
Take Advantage of Digital Deals
Shopping from the comfort of your home? You’re in luck! Online purchases qualify for the tax exemption as long as the transaction is completed during the tax-free period. This includes items that are paid for and delivered or accepted for immediate shipment during the week.
Pro Tip: Be sure to check the delivery timelines on your online orders to ensure they qualify for the tax-free benefit. Some retailers may offer free or expedited shipping during this period, so keep an eye out for those offers.
Shop Smart, Save Big
Stretch Your Budget Further
With the cost of living on the rise, every bit of savings counts. Shop Maryland Tax-Free Week is not just about avoiding the 6% sales tax; it's about being strategic with your purchases to make your money go further. Stock up on essentials, take advantage of sales, and explore your local retail scene. Whether you’re shopping for school supplies or updating your wardrobe, this week is your chance to get more for less.
Reminder: Don’t forget that backpacks are also part of the tax-free deal, with the first $40 of your purchase exempt from sales tax. This is a great time to buy a durable, high-quality backpack that will last all school year.
Conclusion: Make the Most of Shop Maryland Tax-Free Week
Take advantage of the savings, support your local businesses, and prepare for the school year all in one go. As your trusted real estate advisor, I encourage you to make the most out of this annual event. Not only will you save money, but you’ll also contribute to the health and vibrancy of our local economy. And remember, if you know anyone looking to buy or sell a home, I’m here to help—don’t hesitate to send them my way!
Source: MarylandTaxes.gov
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Dan McDevitt
Cummings & Company Realtors
Team Leader Realvolution Homes Group
