Tax-free Weekend In Missouri: What You Need To Know

Tax-free Weekend In Missouri: What You Need To Know

This weekend is the Back-To-School Sales Tax Holiday in Missouri, which allows parents and teachers to save money on school supplies.

Grocery and gas prices are higher than they’ve ever been, and school is only a week or two away for many metro residents.

There is no sales tax-free this weekend on:

Clothes $100 or less per item.
Personal computers and computer devices – such as a monitor, mouse, and keyboard – are $1,500 or less per item.
School supplies are $50 or less.
Certain graphing calculators and computer software.

Williams Financial Group’s Stacia Williams has five children of her own, so she understands where families come from when it comes to buying school supplies during this time of year.

During this weekend’s no sales tax holiday, she encourages families to make sure they have a list and a budget ready in advance.

With inflation at 9.1 percent and the rising costs of school supplies, Williams said many families are going to be caught off guard, so it will be important to get out there this weekend to prepare for extra costs on other things in the future.

In terms of back-to-school supplies this year, most families are expecting to pay about $250 per child for back-to-school supplies, according to Williams.

“I know it’s hard to say no to the kids, but I think in the end, if you’re cost-efficient and mindful of your budget, they will appreciate you telling them no in the long run.

There is a big difference between being cost-efficient and hedging against the extra spending early on, the thing I want to emphasize is that you don’t want to necessarily set yourself up or put yourself in trouble down the road because you’re not being cost-effective and you’re not hedging against that extra spending.