Remind Your Clients That Sales Tax Holidays can Save Them Money on Supplies
This year, let your clients know you have their best interest at heart and make it a priority to remind them that sales tax holidays are quickly approaching and can make a huge difference in the amount of money allocated to business and/or school supplies. Although dates vary depending on where your clients are located, saving on state sales tax translates to major savings.
“Tax professionals being aware of sales tax holidays results in them being able to provide updates to their clients,” said Andrew Poulos, EA, ABA, ATP, president of Poulos Accounting & Consulting, Inc., and a frequent contributor to the Intuit® ProConnect™ Tax Pro Center. “Depending on your clients’ needs, they may be able to purchase assets for their business and save on the sales tax. If a business needs to purchase items that qualify for a sales tax exemption during the tax holiday, they can benefit more if they are aware and up to date.”
Encouraging clients to save money has the potential to result in better client satisfaction, which can potentially create more business for you. Whether you’re a tax professional or accountant, sales tax holidays are beneficial to the average consumer and your firm. Reminding clients of ways to save money further establishes your trusted advisor role.
Passing along this information to your clients can be best communicated through email or even electronic newsletters. Not only is it a great way to keep everyone informed, but it also keeps you in touch with your clients outside of tax season, another way to increase client loyalty.
Here’s a list of 2018 tax holidays by state:
- Alabama: July 20-22
- Arkansas: Aug. 4-5
- Connecticut: Aug. 19-25
- Florida: Aug. 3-5
- Iowa: Aug. 3-4
- Louisiana: Aug. 3-4
- Maryland: Aug. 12-18
- Mississippi: July 27-28
- Missouri: Aug. 3-5
- New Mexico: Aug. 3-5
- Ohio: Aug. 3-5
- Oklahoma: Aug. 3-5
- South Carolina: Aug. 3-5
- Tennessee: July 27-29
- Texas: Aug. 10-12
- Virginia: Aug. 3-5
- Wisconsin: Aug. 1-5
States with no sales tax holiday: Alaska, Arizona, California, Colorado, Delaware, Georgia, Hawaii, Idaho, Illinois, Kansas, Kentucky, Main, Massachusetts, Michigan, Minnesota, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Oregon, Pennsylvania, Rhode Island, South Dakota, Utah, Vermont, Washington, West Virginia, Wisconsin and Wyoming.
State decisions on matters such as sales tax holidays often change; you can advise your clients to check with you each year for updates.
Editor’s note: This article first appeared on the Intuit® ProConnect™ Tax Pro Center.