What Is the Best ATO Vehicle Logbook App? Posted on February 19, 2020 Are you one of those people that won’t keep a logbook unless someone takes you by the scruff of the neck and forces you to do it? Good news is: things have changed. Gone are the days when you had to keep your driving log in printable logbooks and excel sheets. You can’t expect to […]
How to Claim Car Expenses and Make the Rules Work For You Posted on February 17, 2020 How would you like to earn some extra cash to spend on a hot holiday destination or that iPad you’ve been eyeing for some time? We bet our bottom dollar you’d like to learn how! Did you know you can actually do this by claiming your car expenses at tax time? Depending on the business […]
Keeping a Logbook for the ATO: The 5 Best Mobile Apps Posted on February 10, 2020 The fuss about keeping a mileage logbook is over exaggerated. Especially today when you can use a mobile app to log your car expenses and support your tax deduction claim. Yet, a good logbook app is hard to come by. It’s like looking for a needle in a haystack; there are plenty of unreliable apps […]
What is the 2019 Californian Mileage Reimbursement Rate? Posted on February 7, 2020 Mileage reimbursement refers to the money an individual who uses their vehicle for work purposes can recover in the form of rebates or tax deductions. Driving work miles in your vehicle not only makes you eligible for tax breaks, but it is also reimbursable through your expense reports. All you have to do is ensure […]
How to Calculate Mileage Reimbursement in California Posted on February 5, 2020 Most employers believe that they have to pay their employees for business mileage. But this is not true. The federal government does not require employers to reimburse employees. There are some exceptions, however, that protect employee interest to ensure they are making more than minimum wage. The Fair Labor Standards Act, for instance, prevents mileage […]
Car Expenses 101: How to Maximise Your Work-Related Tax Deductions Posted on February 3, 2020 Claiming your car expenses is not without its challenges. But the most daunting challenge is knowing how to navigate the complex tax return process so you maximise your work-related tax deductions. If you cover a decent mileage for work, odds are you’re spending a lot towards your work-related car expenses. This can be measured in […]
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 […]