Black Friday Phenomenon

Did you know that Black Friday is not a new phenomenon?  In the early 1900s, US Thanksgiving always fell on the last Thursday of November.  In 1939, the last Thursday fell on the last day of the month and retailers feared that this would shorten the holiday shopping season.  They petitioned then-President Franklin Delano Roosevelt to declare the holiday a week earlier.  Over the next three years, the holiday was known as “Franksgiving” and was celebrated on different Thursdays across the US.  Confusion ensued.

By 1941, it was decided that US Thanksgiving would be held on the fourth Thursday of November guaranteeing an extra week of shopping!

Black Friday and Cyber Monday have since crept into Canada.  Please take a few minutes away from your shopping this week to enjoy our latest edition of Tax Tidbits

Image Courtesy of: http://www.bbc.co.uk/news/business-25110953