SWA Collier Group

🚗 BUSINESS OWNERS-ARE YOU TRACKING YOUR MILEAGE? 👀

Those little business trips can add up🥰

For 2026, the IRS business standard mileage rate is:

💰 72.5¢ per mile-January 1 through June 30
💰 76¢ per mile-July 1 through December 31

That means keeping track of when those business miles were driven matters this year!

Qualifying business mileage may include trips for things like:

🥰Meeting with clients
🥰Going to the bank or post office for business
🥰Picking up business supplies
🥰Traveling between business locations
🥰Other qualifying business-related travel

🚨 But remember: Your normal commute from home to your regular workplace generally does NOT count as business mileage.

Depending on your situation, you may be able to use the standard mileage method OR actual vehicle expenses to calculate your deduction.

❤️Tax Tip: Use a mileage-tracking app and keep good records throughout the year.

Because trying to remember everywhere you drove back in February when tax season gets here? 😩😂 We’re not doing that.

Good records=fewer headaches at tax time. 💯

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🚨 2026 EITC UPDATE-PARENTS, READ THIS PART🚨

Yes, the Earned Income Tax Credit increased for 2026.

PLEASE understand this:

🗣️The maximum credit does NOT mean everybody gets the maximum.

2026 maximum EITC amounts:

✍🏾 No qualifying children-$664
✍🏾 1 qualifying child-$4,427
✍🏾 2 qualifying children-$7,316
✍🏾 3+ qualifying children-$8,231

That word MAXIMUM matters‼️

Having 3 children does NOT automatically mean you’re getting an $8,231 credit.

Your actual EITC depends on things like your earned income, filing status, number of qualifying children AND whether you meet the eligibility requirements.

Here’s another one I don’t want yall to miss:

For 2026, if certain investment income exceeds $12,200, yall cannot claim the EITC.

This is why I don’t sell people refund numbers.

Tax law first. Accuracy over hype. EVERY TIME. 🎯🥰

💅🏾These are 2026 tax-year amounts for returns filed in 2027.

Tax season is coming… I’m going to make sure y’all understand what’s changing BEFORE we get there. 😉❤️🖤