MICAH BYRD

2025 standard mileage rate increase for business or travel expense is .70 per mile.

I wish you all a Happy Thanksgiving!

May your smiles be big, your laughter be loud and your love be deep today with your family, friends and foes.

With Love,
MICAH BYRD®️

Happy Memorial Day

MBBTS would like to wish ALL the Mothers, Grandmothers and those that stand in the gap as mothers a HAPPY MOTHER’S DAY!
💕

love

2023 Tax Season Is Here! - https://mailchi.mp/422c0b728135/tax-consulting-by-micah-6029649

A Friendly Reminder...

📌 Annual Business Registration Due tomorrow April 1, 2023.

MICAH BYRD has reached 400 FB followers! Thank you for your continued support. It could not have been done without each of you. And, 2023 is going to be EPIC!!🙏🏽😊🎉

Wishing you all a Happy LABOR DAY! ✨
A day on to be creative, innovative and to scale your business to its next level.

God blessings.

IT'S BOOKKEEPING TIME!

A new month into the last month in 3Qtr 2022.
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Education-related tax benefits for 2022

💡Expense deduction rises to $300
The IRS reminds teachers and educators that as the new school year begins, they’ll be able to deduct up to $300 of out-of-pocket classroom expenses for 2022 when they file their federal income tax returns next year.

💡Find out who qualifies and what’s deductible.
College students should study two tax credits.

💡Higher education, including specialized job training and grad school, can be pricey. Eligible taxpayers who paid higher education costs for themselves, their spouse, or dependents in 2021 may be able to take advantage of two education tax credits. The American opportunity tax credit and the lifetime learning credit can help offset education costs by reducing the amount of tax they owe.

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Parents can boost their back-to-school budget by claiming tax credits and refunds.

📌Summer is slipping away, and another school year is starting. As kids head back to the classroom, parents are ticking items off the school supply list. If they want to boost their back-to-school budgets, parents and guardians should ensure they aren’t missing out on their 2021 refunds and tax credits.

The child tax credit
📌The child tax credit helps families with qualifying children get a tax break. People may be able to claim the credit even if they don't usually file a tax return.
irs.govirs.gov

Child Tax Credit | Internal Revenue Service
The Child Tax Credit helps families with qualifying children get a tax break. You may be able to claim the credit even if you don't usually file a tax return.
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COVID tax relief: IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic; $1.2 billion in penalties being refunded to 1.6 million taxpayers

To help struggling taxpayers affected by the COVID-19 pandemic, the IRS issued Notice 2022-36 on August 26, 2022 to provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late. Nearly 1.6 million taxpayers will automatically receive more than $1.2 billion in refunds or credits. Many of these payments will be completed by the end of September.

Along with providing relief to both individuals and businesses impacted by the pandemic, this step is designed to allow the IRS to focus its resources on processing backlogged tax returns and taxpayer correspondence to help return to normal operations for the 2023 filing season.
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