How to Calculate Mileage for Taxes Posted on February 13, 2019 Employees and self-employed workers have the opportunity of getting unreimbursed mileage expenses as itemised deductions while filing the year tax returns.
A Step-By-Step Guide on How to Track and Log Mileage for Taxes Posted on February 4, 2019 The IRS has made it very easy for self-employed individuals or employees who use vehicles for business purposes to get mileage deductions from
15 Mileage Log Errors that May Get you in Trouble with IRS Posted on January 29, 2019 Hard to Read Mileage Log If you are using a handwritten or a hardcopy of mileage log, you better make sure it is easy to read. However, this is the old way
How to Get the Most Out of Mileage Deductions Posted on January 21, 2019 There are a few things that you need to do for you to get the most out of your mileage deductions. While a mileage deduction is not an exact science, you can guarantee huge amounts of tax savings if you observe a few rules. Below are the tips that you need to follow for you […]
How Does the GOFAR Mileage App Help Its Users? Posted on December 28, 2018 Unlike the first generation of smart car gadgets on the market, the GOFAR gadget comes with an intelligent app that translates engine data, logs business mileage and teaches a driver how to drive safely to improve efficiency. The inventors of the product came up with a technology that ensures you spend less on fuel. The […]
How Does IRS View the Mileage To and From Work? Posted on December 27, 2018 The IRS considers the first trip out of your house to the office and the last trip from your office to your home as commuting. Commuting is not an allowed deduction, and therefore you cannot claim mileage deductions on commuting. The IRS sees where you live as a personal choice, and thus if you live […]
What is the IRS Mileage Rate for 2018? Posted on December 26, 2018 As an American in 2018, you can deduct some of the cost of running your car from your expenses if you use it for business purposes. To do that, you need an efficient way of tracking your expenses. You can use a mileage tracking app such as GOFAR which not only tracks your business mileage […]
FAQs About IRS Mileage Deductions 2018 Posted on December 25, 2018 What is the IRS Standard Mileage Rate in 2018? 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 54.5 cents per mile Medical miles at 18 cents per mile Charity miles at […]
Do SUVs Still Command New Vehicle Market Share? Posted on December 19, 2018 Don’t doubt it! SUVs are still in hot demand. In Australia alone, SUVs make up 43% of all new cars sold in 2018. This compares with just 34% passenger vehicles and a paltry 23% commercial vehicles. What this means is that SUVs hold 42.2% market share of all new cars sold in Australia compared to the […]
What are Slow Zones? Posted on December 15, 2018 A slow zone is an area that you’re not supposed to drive more than 40 km per hour. For example in the Yarra Council in Melbourne, new slow zones allow the driver to only drive up to 30 kilometres per hour. Unfortunately, most residents opposed this. A study in UK indicates that people are more […]