Mileage Tracking App for Taxes: A Comparison of 3 Top Options Posted on January 26, 2023 In the past, many self-employed freelancers and independent contractors relied on manual mileage tracking, but this is frustratingly time-consuming. Manually writing down business trips also increases the margin of error in mileage logs and if you forget trips then that minimizes tax deductions. Not good! Today, the IRS has approved and recognized multiple mileage tracking apps that […]
Best App to Track Mileage: 4 Must-Have Time-Saving Features Posted on November 1, 2022 As Lyft and Uber drivers know, tracking your mileage and expenses is extremely crucial if you want to be eligible for mileage deductions. The good news is that you don’t have to be a rideshare driver to qualify. You can deduct the cost of your vehicle operations if you operate your private car for business […]
Company Mileage: 3 Things You Can Claim and 2 You Can’t Posted on October 25, 2022 Mileage for a company or business is the distance traveled while conducting company or business-related activities. These can include: Attending a business meeting Traveling to meet potential clients Picking up supplies for the company Running errands on behalf of the company The Internal Revenue Service (IRS) allows businesses to write off the cost of driving […]
Business Mileage: 5 Common Questions Answered for Small Businesses Posted on October 18, 2022 For many small businesses, using a car for business purposes is a necessary expense. As with other expenses, the Internal Revenue Service (IRS) has specific rules and regulations regarding business mileage. These strict guidelines specify what qualifies as business mileage, and how this mileage can be deducted on taxes. The tax benefits of business mileage […]
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 [...]
What is the Standard Mileage Rate for 2021? Posted on October 21, 2021 In the United States, the Internal Revenue Service (IRS) has a standard mileage rate that is used to calculate deductible expenses for running a car. The rate is specifically computed to help people who regularly drive for business purposes to calculate their costs and then deduct them from their taxes. The Standard Mileage Rates include [...]
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 Tracking deductible business mileage is notoriously difficult. Especially for individuals who rack up a lot of miles as part of their job. For Uber and Lyft drivers, accurate mileage tracking and reporting are essential. One of their major sources of income is through their mileage deductions. However, manual mileage tracking will not work for such […]
What is the Best Mileage Tracker App in 2020? Posted on March 25, 2020 If you use your vehicle for business purposes, you may be able to deduct part of your driving-related expenses from your taxable income. To do so, you need to keep an accurate record of your business mileage and related expenses, most likely through a mileage tracking app. The IRS is very strict about its documentation […]