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 requirements for business mileage deductions. For this reason, you need to ensure that the mileage tracker you choose will maintain an accurate record within the IRS’s guidelines. Some of the information the IRS requires for an acceptable mileage log includes: The date of your trip Your starting point Your destination The purpose of your trip Your vehicle’s starting and ending mileage Tolls and other trip-related costs A good mileage tracking app should be able to track this information and allow you to update your records for precision. What Are the Qualities of a Good Mileage Tracking App? Here are a few of the essential features to look out for when picking the best mileage tracking app. IRS-compliant mileage reports Cloud storage for your records Map generation of your driving routes Auto-detection for when you start/stop driving Ability to categorize business and personal trips Ability to upload photos of receipts and tag them with a description, time and date These are the must-have features of any decent mileage tracking app. They ease the tracking and reporting process and make claiming your deductions easier. Additionally, they reduce the risk of having your mileage deductions claim rejected. What Are the Top 5 Mileage Tracking Apps for 2020? 1. GOFAR Ultimate Vehicle Mileage Tracker. Never stress about mileage tracking again! The GOFAR mileage tracking app is a reliable and IRS compatible tracker, with fully automated tracking and reporting. It’s compatible with any gasoline, diesel, or hybrid vehicle manufactured in 2007 or later, as well as many earlier car models. You can find out if your car is GOFAR compatible here. Adding trips to GOFAR’s digital log is as easy as a swipe right on your mobile app. The app records all your mileage information with the option to export the report to your email in a few simple steps. GOFAR’s mileage reporting includes the start and end odometer readings, time and date stamps, gas fill-ups, and cost of fuel for each drive. It even allows you to choose custom or the standard IRS mileage rules. GOFAR offers on-device storage that will track your mileage and expenses even when your phone dies. It also automatically logs all your trips by detecting when the engine is running. The GOFAR kit comes with an OBD2 port adaptor and a dash-mounted ray device that can help you drive more efficiently. Other notable GOFAR features include: Improved functionality compared to other GPS/3G trackers Alert system for automobile faults Vehicle faults reporting with English explanations Ability to set reminders (e.g., for insurance, registration) Intuitive feedback that’s proven to improve fuel economy Visit GOFAR’s website for more information on their pricing details. 2. Everlance [b3_row] [b3_column lg=”6″ md=”12″ sm=”12″ xs=”12″ ] Everlance automatically tracks your mileage using GPS. All you need to do is swipe to tag the rides for business. It offers cloud storage service on which you can store the photos of your business expense receipts. The Everlance app is IRS compatible and designed for minimal battery consumption. So you don’t have to worry about the app draining your battery. Everlance is 100 percent free for the first 30 trips every month. A great deal if you don’t travel regularly. But not so much for professionals like Uber drivers. For full access and functionality, you have to pay either $60.00 per year or $8.00 per month. [/b3_column] [b3_column lg=”6″ md=”12″ sm=”12″ xs=”12″ ] Everlance for #Android is Here! Our users record over $5,000 in #savings each year. #taxeshttps://t.co/bUzjIUhsxu pic.twitter.com/jjHFWZfz88 — Everlance (@everlance) August 4, 2016 [/b3_column] [/b3_row] Visit the Everlance website for more information about pricing and features. 3. SherpaShare [b3_row] [b3_column lg=”6″ md=”12″ sm=”12″ xs=”12″ ] SherpaShare is the only app on this list developed especially for Uber and Lyft drivers. For this reason, it includes many rideshare specific features. For instance, the app connects you to a community of drivers where you can chat and share real-time information. You can integrate SherpaShare with your Uber or Lyft account to find out how much you’ve earned per mile. This feature provides you with charts and graphs of your progress from week to week. [/b3_column] [b3_column lg=”6″ md=”12″ sm=”12″ xs=”12″ ] Images from our websites new look: https://t.co/1wLAgimMGG pic.twitter.com/6PBhx7ryDa — SherpaShare (@SherpaShare) April 19, 2016 [/b3_column] [/b3_row] You can get SherpaShare at $6.00 per month and an annual plan of $60.00 per year. SherpaShare provides a premium plan at $120.00 per year or $10.00 per month, which gives you access to exclusive deals. 4. TripLog MagicTrip is one of TripLogs defining features. It is a proprietary software function that fully automates the app’s ability to detect when you start or stop driving. In addition, TripLog has a cloud storage feature where you can store, sort, analyze, and download your mileage data. The app gives you the ability to save your GPS mileage tracking that shows your actual driving routes on Google Maps. One of TripLogs best selling features is its automation. You can set it up to only log your miles during certain hours, days, or when you meet specific conditions. TripLog offers three payment plans with access to different features: The free plan gives you rudimentary mileage tracking via GPS and shows you your routes on Google Maps as well as keeping track of your gas expenses. However, it does not provide IRS compliant tax reports. Visit the TripLog website for more information about their pricing and plans. 5. MileIQ Image from: MileiQ Microsoft owned MileIQ is a mileage tracking app that comes bundled with the Office 365 Business Premium subscription. Good news for those of you with an existing subscription because you get to use the app at no extra cost. However, for those without such a subscription, the app is a little pricier than the other mileage tracking apps. MileIQ does a decent job of tracking and logging your miles, but it has some quirky design features that could be a bit of an annoyance. For instance, you cannot view your miles by day; you can only view them by month. Furthermore, there are only two ways to view your reports – either through an emailed statement or online through a desktop web browser. MileIQ is available in two plans. A free plan that gives you 40 tracked trips per month, and a paid plan available at $6.00 per month or $60.00 annually. How to Make the Most From Your Mileage Tracking App Mileage Tracking apps exist to help you earn as much as you can from our mileage deductions. Apply these tips to get the most from your mileage tracking app: 1. Classify Your Trips Daily Unless you have an auto-logging mileage tracking app, you should review, and tag your trips daily for maximum clarity. Lack of clarity can cost you money through rejected deductions at the end of the year. 2. Review Your Weekly Mileage Most mileage tracking apps send you weekly emails summarizing your deductible mileage for the week. Go through these emails and ensure it is accurate. GOFAR makes this easy because you can export your mileage report to your email with the click of a button. You can write down your odometer readings at the beginning and end of every week to ensure that your app is accurate. 3. Take Advantage of Business Deductions Beyond mileage, apps like GOFAR allow you to log business costs like car repairs, gas, and other business-related expenses. Make sure you log these expenses to make the most of your tax deductions come tax time. It is evident from the information above that finding the best mileage tracking app for you is not as easy as you may have thought. It is evident that the best overall app, everything considered, is GOFAR. With a wide array of features and a free easy-to-use app, GOFAR offers you the best value. It is also compatible with the IRS, and other taxation offices (like the ATO in Australia). GOFAR helps you save money by recommending the best driving style for a better fuel economy. It helps you keep track of maintenance and repairs to ensure that your car is running at optimum efficiency. Visit GOFAR’s website today to learn all about their pricing and all you stand to gain from the GOFAR mileage tracker.