Sales Tax Holidays

We look forward to the opportunity to purchase many of the necessary items for returning to school TAX FREE!

Mississippi's back-to-school sales tax holiday is on July 29 and 30 this year.

  • Sales tax rate: 7%

  • Average combined state and local sales tax rate: 7.07%

  • Dates of sales tax holiday: July 29 to 30, 2022

The sales tax exemption applies to clothing, footwear, and school supplies with a sales price of $100 or less. However, accessories such as jewelry, handbags, wallets, watches, and the like don't qualify for the exemption. A pdf list from the Mississippi department of Revenue may be downloaded here:

Mississippi Tax Holiday
Download PDF • 259KB


Shoppers in South Carolina should plan to buy their back-to-school gear from August 5 to August 7, 2022.

  • State sales tax rate: 6%

  • Average combined state and local sales tax rate: 7.47%

  • Dates of sales tax holiday: August 5 to 7, 2022

That's when they can avoid paying sales tax on purchases of clothing, footwear, accessories, school supplies, computers, software, printers, and certain bed and bath supplies. The exemption does not, however, apply to sales of jewelry, cosmetics, eyewear, wallets, watches, furniture, or any item to be used in a trade or business. The rental of clothing or footwear is taxable, too. Additional examples of items that are both exempt and taxable items during the sales tax holiday are posted on the South Carolina Department of Revenue's pdf file


South Carolina Tax Free Weekend
Download PDF • 248KB


Start a College Fund Savings Plan Now!

As parents, and grandparents we want to give the whole world to our kids. More often than not, that includes a first-rate college education. Right now, while the little ones are still stumbling through toddlerhood, college seems like a long time away. But as we know, life moves quickly. Before we know it, our babies will be teens, submitting college applications.

If you’re like me, you want to help your kids get off to a solid start in life as young adults. For many people, this means entering the workforce with a college degree.

Why a 529 plan?

Annual account fees Fund-based fees (or expense ratios) Account maintenance fees four-year college. And about 70 % of students graduate with loans.

I can’t put enough emphasis on the fact that 529 plans are a fantastic way for parents and grandparents to start saving for their children's college education early. 529 plans are an easy way to save and invest your money, and they have several financial benefits:

  • 529 plans are funded with after-tax money but grow tax-free

  • Distributions are tax-free as long as they’re used for qualifying education expensesA variety of expenses qualify – not just college tuition

  • You can use the funds for private K-12 tuitionOther people, such as grandparents, can contribute to the account.

It can be tough to determine which 529 plan best fits your family’s situation. Here are a few things to keep in mind.

Are all 529 plans the same?

Although most 529 plans act similarly, they’re not exactly the same. Depending on which 529 plan you select, you could:

  • Run into different expense ratios for holding the investments within the plan have different asset allocationsQualify for different tax benefits Have to adhere to different usability rulesNegatively impact your child’s financial aid eligibility

  • Let’s explore some of these key differences between 529 plans, and what you should keep an eye out for as a financially-savvy parent.

  • Here are some things to watch out for.

Fees & expenses

As is the case with every type of investment account, you’re going to have some expenses associated with your 529 plan. When comparing plans, make sure you keep track of fees. Watch for the following:

  • Management feesEnrollment or application fees

  • Annual account feesFund-based fees (or expense ratios)Account maintenance fees

Ideally, you want all of these fees to be low or non-existent. However, it’s especially important to watch for expense ratios connected to the investment options in your 529 plan. In other words, you want the expense ratios of those investment options to be as low as possible, and ideally, less than 1 % overall.

Investment options and portfolio types

You don’t have to be a professional investor or day trader to take a closer look at the funds in your 529 plan.

There is a range of investment options and different portfolio types available for you to choose from within each 529 plan. Some portfolios are managed based on when your kid is going to head off to college (age-based portfolios), and typically, the risk level will slowly decline as your child gets closer to high school graduation. However there are other types of portfolios available, so if you have questions, you may want to work with a financial planner.

We don’t live in a perfect world, and it’s possible over time for the fund to become over-invested in one type of investment. Now and then, it’s a good idea to take a look at how your assets are being allocated. You can ask your 529 plan provider (or dig in to the information available online). If you have questions about whether or not that allocation makes sense for your goals, this is another good reason to reach out to a financial planner.