17 Financial Dates and Deadlines in August 2021

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Life strikes rapidly. It’s simple to get distracted. However that may be expensive.

Miss an necessary monetary date or deadline, and you possibly can be on the hook for a penalty or lose out on a limited-time alternative to economize.

Enter our “Cash Calendar” sequence.

On this version, we’ve rounded up the noteworthy cash dates in August 2021. Have a look and mark your calendar with any dates that apply to you.

Via Aug. 5 — Tennessee’s meals gross sales tax vacation

Tennessee is bringing again its gross sales tax vacation for meals, meals elements and ready meals, which is basically an expanded model of a gross sales tax break on restaurant meals that the state first offered in 2020.

For extra details about the 2021 version, take a look at the Tennessee Division of Income’s Sales and Use Tax Notice No. 21-10: 2021 Gross sales Tax Vacation for Meals, Meals Components, and Ready Meals.

Varied dates — 12 back-to-school gross sales tax holidays

Many states have back-to-school gross sales tax holidays this August. Based on the Federation of Tax Directors, they embrace:

  1. Arkansas: Aug. 7-8
  2. Connecticut: Aug. 15-21
  3. Florida: July 31-Aug. 9
  4. Iowa: Aug. 6-7
  5. Maryland: Aug. 8-14
  6. Missouri: Aug. 6-8
  7. New Mexico: Aug. 6-8
  8. Ohio: Aug. 6-8
  9. Oklahoma: Aug. 6-8
  10. South Carolina: Aug. 6-8
  11. Texas: Aug. 6-8
  12. Virginia: Aug. 6-8

These time home windows give residents a possibility to purchase objects like garments, faculty and workplace provides and generally private computer systems with out being charged state gross sales tax.

Aug. 14-15 — Massachusetts’ huge gross sales tax vacation

Massachusetts hosts the very best gross sales tax vacation of the month if not your complete 12 months. Throughout this time window, nearly any sort of tangible property costing lower than $2,500 is exempt from gross sales tax.

Based on the Massachusetts Department of Revenue’s FAQs concerning the generically named “Gross sales Tax Vacation,” the one issues that don’t qualify for the exemption are:

  • Meals
  • Motor autos
  • Motorboats
  • Telecommunications providers
  • Fuel
  • Steam
  • Electrical energy
  • Tobacco merchandise
  • Marijuana or marijuana merchandise
  • Alcoholic drinks
  • Any single merchandise whose worth is greater than $2,500 (or greater than $175 within the case of clothes objects)

Even if you happen to purchase greater than $2,500 price of stuff, it may all be gross sales tax-free. The FAQs clarify:

“So long as the value of every particular person merchandise is $2,500 or much less, you should buy as many objects as you need collectively, tax-free, even when all of the objects added collectively value greater than $2,500.”

Aug. 15 — Particular enrollment interval ends for ACA insurance coverage

The 2021 particular enrollment interval for Reasonably priced Care Act (ACA) medical health insurance insurance policies, which was established because of the COVID-19 pandemic, is at the moment set to finish on Aug. 15.

In case you purchase protection by one of many medical health insurance marketplaces created by the Reasonably priced Care Act of 2010, you’ve by Aug. 15 to enroll in a plan or change your present plan. For extra data, go to the federal authorities’s HealthCare.gov website.

Aug. 27-29 — Mississippi’s Second Modification gross sales tax vacation Aug. 27-29

Throughout the annual Mississippi Second Modification Weekend, firearms, ammunition and sure searching provides are exempt from gross sales tax.

For extra data, together with an inventory of eligible and non-eligible objects, take a look at the Mississippi Division of Income’s guide to this sales tax holiday.

Aug. 29 — Postal charges to extend

After raising rates in January, the U.S. Postal Service is anticipated to lift charges once more this month, as we detailed in “Postal Rates Likely to Climb This Summer.”

This time round, the value will increase would come with that of normal stamps and postcards. So, if you happen to ship a lot mail — and even if you happen to plan to ship vacation playing cards later this 12 months — take into account stocking up on Without end stamps by Aug. 29.

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