What Is Mileage Reimbursement? Quick Guide Posted on January 28, 2020 Mileage reimbursement refers to the money paid back to an employee to cover the cost of using their private vehicle for work. The reimbursement may be in the form of a rebate or tax deduction. Presently, there are no federal laws that require employers to reimburse workers for business mileage. However, most employers compensate their […]
Standard IRS Mileage Rates for 2019 Posted on January 25, 2020 What Is the IRS Mileage Rate? The IRS mileage reimbursement rate, also known as the safe harbor rate, is a guideline for business mileage reimbursement. It applies mostly to employees or independent contractors who use their private vehicles for work purposes. The IRS conducts an annual study of the fixed and variable costs of operating […]
Motor Vehicle Expenses: What Every Tradie Needs to Know Posted on January 24, 2020 If you drive your car to generate income, you have a chance to earn money back on your tax return. It’s in your best interest not to squander it. Paying out of pocket for your motor vehicle expenses can be budget-draining. Especially if you cover a handsome mileage as a tradie, a handyman or an […]
5 Outstanding Mileage Trackers for US Truck Drivers Posted on January 22, 2020 If you clock thousands of miles as part of your job like most truck drivers do, you’ve certainly experienced a well-known headache caused by your constant strenuous effort to track every single mile and create a neat and accurate mileage log manually. Here comes the headache again when you’re just thinking of keeping a tally […]
4 Reliable Mileage Trackers for the American Market Posted on January 20, 2020 Have you ever heard daily commuters or fleet or rideshare drivers repeatedly complain about having to keep an impeccable manual tally of all their miles driven, trip purposes, dates, locations, and many other work-related car expenses relevant for their reimbursements or tax deductions? We bet you have. Every driver who uses a personal car for […]
Top 4 Mileage Trackers in the Google Play Store Posted on January 17, 2020 Do you use your personal vehicle for business trips frequently? If your answer is yes, you undoubtedly know how daunting and time-consuming it can be to log every mile manually without making a mistake or missing any critical details. In reality, it’s nearly impossible to keep an accurate manual tally of all the data the […]
5 Free Mileage Tracker Apps for iPhone Worth Trying Posted on January 15, 2020 Just like millions of iPhone and Android owners worldwide, you probably use this gadget to take photos, play games, listen to music, or surf the Internet, right? BUT… Have you ever thought about using your smartphone in a smarter way? Did you know it can help you save money, time, fuel, drive better, be more […]
Work-Related Car Expenses 2020: Secrets Accountants Know Posted on January 13, 2020 Did you know you can claim your work-related car expenses if you’re able to prove how much you covered for work? Using the system to your advantage can be a lucrative endeavour. Yet, your attempt is doomed to failure if you’re not familiar with the ATO mileage deduction rules. People had their reasons when they […]
5 Simple Tips for Claiming Car-Related Tax Deductions Posted on January 10, 2020 The first step on your way to claiming your car expenses is getting familiar with a few ATO rules. Sticking to those rules will put you on the right side of the law and help you make clever decisions so you get more money back on your taxes. Claiming your car deductions is one of […]
Logbook Method: How to Claim Car Expenses From the ATO Posted on January 8, 2020 Do you know the old adage what you don’t know can’t hurt you? Well, this time it can. Sort of — and we mean financially. Being unaware of the logbook method can make you miss out on lucrative tax deductions. According to RACQ, Australians have to fork out between $8,203-$13,662 for their running car expenses. […]