Tuesday, March 30, 2010
So today I've been thinking about taxes. Weird huh? I read all these wonderful articles about people who live in sales tax free states or no tax on grocery states and think what if? What if I had that extra 8.735% back in my pocket every month how awesome would that be. Well let's be honest I live in Oklahoma and that's not going to happen.
But this brings me to another topic, taxes and coupons. I am going to approach this two different ways one for the foodstampers and two for those of you who don't get foodstamps.
First if you use foodstamp cards you should only be paying tax on the coupon portion of an item. So say an item is $1.00 and you have a coupon for .30 that doubles to .60 making the item. .40. You should only pay tax on the .30 portion and depending on what store you are at sometimes they charge it back to your foodstamp card and sometimes you have to come up with it out of pocket.
There is an exception to this if you go to buy an item that is a $1.00 and you have a .50 coupon that doubles your total would be .04 cents that you must come up with out of pocket for the item not with your foodstamp card.
Second, non foodstampers it is a little easier for you. You will always pay tax on the total amount of the item unless the item is free minus the doubles portion of the coupon. So if an item is $1.00 and you have a .50 cent coupon that doubles you will pay tax on the .50 cent portion.
If you have an item that is $2.00 and you have a .50 coupon that doubles you will pay tax on $1.50.
Hope this helps. This is the 2nd most popular question I get.
The Cute Couponer
Publicado por Valerie CottageMakingMommy en Tuesday, March 30, 2010