WHAT IS THE CRA LOGBOOK METHOD? Posted on October 21, 2021 The Canadian Revenue Agency (CRA) allows people to claim the use of their car for work as a tax deduction. One of the allowable ways to claim is by the ‘logbook method’. The logbook method allows people to claim a % of all of their vehicle expenses based on how much the vehicle is used […]
WHAT IS THE CRA CENTS PER KM ALLOWANCE FOR 2021? Posted on October 21, 2021 The Canadian Revenue Agency (CRA) allows people to claim the use of their car for work as a tax deduction. The CRA reviewS the rates regularly but they remain unchanged since last year 2020. The 2021 allowance rates are: 59 cents per km for the first 5,000km Plus 53 cents per km from 5,001km and […]
WHAT’S THE ATO CENTS PER KM RATE FOR 2022? Posted on October 21, 2021 The Australian Taxation Office (ATO) allows people to claim the use of their car for work as a tax deduction. The rates are reviewed regularly and they applied a new rate for the 2021 and 2022 tax years. The rate for 2022 is: 72 cents per km for 2022 The ATO allows people […]
FAQs About IRS Mileage Deductions 2021 Posted on October 21, 2021 What Is the IRS Standard Mileage Rate in 2021? If you choose to use the Standard Mileage Rate method of deduction set by US Government Agency, the Internal Revenue Service (IRS), you will use the following rates for deduction: Business mileage at 56 cents per mile Medical miles at 17 cents per mile Charity miles at [...]
What is the Standard Mileage Rate for 2021? Posted on October 21, 2021 In the United States, the Internal Revenue Service (IRS) has a standard mileage rate that is used to calculate deductible expenses for running a car. The rate is specifically computed to help people who regularly drive for business purposes to calculate their costs and then deduct them from their taxes. The Standard Mileage Rates include [...]
NEW ATO CENTS PER KM RATE FOR 2021 Posted on October 21, 2021 The Australian Taxation Office (ATO) allows people to claim the use of their car for work as a tax deduction. The rates are reviewed regularly and there is a NEW rate for the 2021 and 2022 tax years. The rate is: 72 cents per km for 2020–21 and 2021–22 The ATO allows people […]
How to Use a Mileage Tracker as a Shipt Shopper Posted on May 2, 2020 Did you know that nearly half of American workers have a side hustle? This is in addition to their regular full-time or part-time positions. A side hustle can help you make ends meet, have more disposable income, or have more to save. One of the easiest side gigs that almost anyone can do is working […]
How to Use Waze as a Mileage Tracker Posted on March 30, 2020 What is Waze? Waze is a free, ad-supported navigation app designed to make driving more efficient. It uses your phone’s GPS and social media-based crowdsourcing to find routes, and provide you with real-time traffic information. Waze allows users to share information such as traffic conditions and anything else that might impact driving. Because Waze uses […]
How to Choose the Best Mileage Tracker App for Uber and Lyft Posted on March 27, 2020 Tracking deductible business mileage is notoriously difficult. Especially for individuals who rack up a lot of miles as part of their job. For Uber and Lyft drivers, accurate mileage tracking and reporting are essential. One of their major sources of income is through their mileage deductions. However, manual mileage tracking will not work for such […]
What is the Best Mileage Tracker App in 2020? Posted on March 25, 2020 If you use your vehicle for business purposes, you may be able to deduct part of your driving-related expenses from your taxable income. To do so, you need to keep an accurate record of your business mileage and related expenses, most likely through a mileage tracking app. The IRS is very strict about its documentation […]