Abvise

If you have a child…
you could be missing up to $2,200 per year 💰

Here’s how the Child Tax Credit works (super simple):

✔️ Child under 17
✔️ Lives with you
✔️ You claim them as dependent
✔️ Has valid SSN

👉 You can reduce your tax directly
👉 And even get up to $1,700 as refund (if eligible)

Most people don’t claim it right.
Especially in NRI / cross-border cases.

Save this. You’ll need it at filing time.

Stop leaving money on the table. If you’re a business owner or freelancer using your vehicle for work, you are likely missing out on massive tax savings if you aren’t tracking your expenses correctly.

You have two choices: go with the IRS standard mileage rate or deduct your actual expenses (gas, insurance, repairs). Best part? Parking fees and tolls count under both methods.

The catch? The IRS demands a detailed mileage log to make it official.

Comment ‘MILES’ for my free mileage tracker template.

If your trip requires you to stay overnight, it may qualify as a business travel deduction.
That means your flights, hotel and even meals could count - not just a meeting itself

The IRS just made a mid-year change that could have a bigger impact than you might expect.

Starting July 1, 2026, the business mileage rate increased to 76 cents per mile, up from 72.5 cents per mile for the first half of the year.

Mileage rates affect more than just reimbursements. They can also impact:

• Tax deductions
• Employee reimbursements
• Business expenses and profit margins

So, if you haven’t already, it’s worth checking whether your expense policies and reimbursement systems have been updated for the July change.

Tips might be the most misunderstood tax advantage in restaurants.

Here’s how you can actually save 👇

When your staff earns tips, those tips are treated as taxable wages.

That means you’re paying Social Security & Medicare (F**A) taxes on them as an owner.

But here’s the part most restaurant owners miss

You may be eligible for a tax credit on the F**A taxes you pay on tips

👉 Specifically on tips that exceed minimum wage levels.

So you’re not getting the tips back…
But you *are* getting back a portion of the taxes you paid on them.

And if you run a busy restaurant with multiple servers?
That can add up to serious savings.

⚠️ Pro tip: Only voluntary tips qualify service charges don’t count.

[ RestaurantOwners TaxSavings F**ACredit HospitalityBusiness RestaurantGrowth SmallBusinessTips TaxPlanning FoodBusiness EntrepreneurLife BusinessOwners USowners Abvise ]

Reminder for founders😌

July 31 is where most ITR mistakes silently get locked in

File it right by checking these 3 things:

1. Incomplete income reporting kills accuracy
Salary isn't the full picture. Foreign income, freelance, capital gains missing these breaks your filing.

2. Wrong tax regime = paying extra legally
Old vs New isn’t basic anymore. This one choice directly impacts your tax outflow.

3. AIS mismatch triggers scrutiny
Your return gets auto cross-checked. Numbers don’t match = you get flagged.

Don’t just file. File it right.

Save this before July 31 ✅
Tag someone who’s filing their ITR this month

Tag someone who doesn't know this difference.🙂‍↔️

Tag someone who needs clarity in their thoughts and business.