Demystifying the CRA Logbook Method: Navigating Car Mileage Rates 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 based on their car mileage rate. 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 […]
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 rate is reviewed regularly but it has remained 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 […]
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 [...]
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 For Uber and Lyft drivers, accurate mileage tracking and reporting are essential. One of their major sources of income is through their mileage deductions. This is where a vehicle tracker comes in handy. Tracking deductible business mileage is notoriously difficult. Especially for individuals who rack up a lot of miles as part of their job like truck […]
How to Use A Mileage Tracker for Shipt and Earn Money Posted on March 23, 2020 What is Shipt? Shipt is a membership-based grocery marketplace that provides same-day delivery of fresh food and household essentials to its subscribers. Members can place their orders either through a smartphone app or the Shipt website. Members place orders from various retailers, which are then fulfilled by a Shipt Shopper and delivered to their doorstep. […]
4 Reasons Your Small Business Needs a Mileage Tracker Posted on March 20, 2020 As a business owner, did you know that you can use a mileage tracking app to accurately record your business-related travel? Forget the old method of recording mileage when you or your employee uses a car for work-related purposes, every mile counts. Firstly, you will have to work out how much to compensate employees who […]
What Are the Standard Mileage Deduction Rates & Rules? Posted on March 16, 2020 What Is Mileage Deduction? A mileage deduction refers to the money paid back to an individual who uses their private vehicle for business purposes. The deduction is usually in the form of tax relief or rebate. You can calculate your mileage deduction, either using the standard IRS mileage rate or by working out your actual […]
How to Pick the Best Mileage Tracking App That Doesn’t Drain Your Battery Posted on February 29, 2020 Using a mileage tracking app can drain your phone’s battery like any other app that uses GPS to track location. And you won’t have an accurate driving log if you can’t record your trips because your phone’s dead. Worse still, most mileage trackers stop recording your trips if the battery dips below 10%. And if […]