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Retailers and the tax rebate

April 30, 2008

Everyone wants a piece of your economic stimulus check.

If you read Monday’s post, you already know what Advantage would advise you do with your checks. As it turns out, many retailers have another idea of how you should spend your rebate money.

It’s a no-brainer that stores are going to try to make the most of this little windfall of money many of us will find in our bank accounts and mailboxes over the upcoming weeks.

Some retailers are offering to turn your rebate check into a gift card for their store.

It sounds handy right?  It sounds especially appealing in the case of grocery stores. After all, we have to buy food, and spending our rebate money on groceries sounds practical, almost downright responsible.

And for some people maybe it is practical, but you should consider some things before you jump on these offers.

First of all, do you want to spend all of your rebate money at just one store? Second, would it be more practical and responsible to divide that money up between several areas such as debt reduction, savings and groceries or clothing? Third, are there any caveats attached to the gift cards? Make sure to get all the details before choosing this option.

For more reading on the subject, Liz Pulliam Weston this week made a case against the tax rebate gift cards. You can read her take on the topic here and make the decision that is best for you and your family.

By the way, are you still confused over when you should get your check or how much you will get? You’re not alone. These checks have caused a lot of confusion. The Pittsburgh Post-Gazette ran a story today that answers some common rebate check questions. They also gave a rebate hotline number that you can call with questions. That number is (866) 234-2942.

Do you have an opinion about rebate tax gift cards? Please share it.

Written by admin · Filed Under Misc., News 

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