Tips on Claiming Travel Mileage When You’re Self-Employed Posted on March 18, 2020 Being a self-employed worker comes with its fair share of challenges. You have no guaranteed income and it is likely that you don’t have a financial safety net in case things don’t work out. With this in mind, every self-employed worker or entrepreneur should take full advantage of every tax deduction they can claim to […]
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 Tracker App That Doesn’t Drain Your Battery Posted on February 29, 2020 Using a mileage tracker 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 your […]
Business Mileage Deduction 101: A Beginners Guide Posted on February 28, 2020 What Is Mileage Deduction? Mileage deduction is a term used by the IRS to refer to the deductible expenses incurred by car owners who operate their private vehicles for work. According to the IRS, if you use your car for business purposes, you can deduct the cost of operations from your taxes. However, if you […]
What Drives Are IRS Tax Deductible? Posted on February 26, 2020 If you drive your car for work, then you may be able to claim a mileage deduction on your taxes. A mileage deduction is a tax rebate that helps offset the cost of using your private vehicle for business reasons. However, claiming a mileage deduction is not as straightforward as most people believe. The IRS […]
Mileage Reimbursement Under California Law Posted on February 24, 2020 Although it’s a common practice among many businesses to offer mileage reimbursement, no federal laws require them to do so. California, however, requires employers to compensate their workers for all expenses incurred while performing their jobs. But navigating the reimbursable and non-reimbursable expenses can prove a challenge. See, there is a lot more to business […]
Why Your Business Should Use a Mileage Tracker App Posted on February 21, 2020 Are you unsure whether you should get a mileage tracker app for your business or not? Well, modern electronic apps that track mileage can benefit your business more than you realize. As a businessperson, you invest in strategies that have proven to bring you positive ROI. And it stands to reason you’ll spare no expense […]
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 […]