In this article, we’ll explore the benefits of using an automatic mileage log, and how to get started.
Standard Mileage Rate vs. Actual Method
The standard mileage rate is the most simple and straightforward way to claim your business expenses. All you need to do is keep track of your total business miles driven for the year on your mileage logbook app, and multiply that by the standard mileage rate (set by the IRS each year).
However, this method of using a mileage tracker app is often seen as the more accurate way to claim business expenses, as it allows you to deduct the actual costs of running your vehicle (such as gas, oil, repairs, etc.).
Keep in mind though that you will need to keep meticulous records of all your expenses in order to use this method.
Tracking Mileage for Taxes: The Technical Side
When it comes to tracking mileage for taxes, the technical side can be a bit overwhelming. Should you use pen and paper? Excel? Or a mileage tracker app? The latter is definitely the way to go to maintain a simple mileage log!
How to track mileage for work? There are a number of reasons why a mileage log app is the best option for tracking your mileage for taxes.
- First, it’s much more accurate than pen and paper to maintain an IRS mileage log. With an app, you can track your mileage down to the tenth of a mile, which is important when it comes to claiming deductions.
- Second, a mileage tracker app is much easier to use than Excel. With an app, you can simply enter your starting and ending points and the app will automatically create the IRS-approved mileage log for you. No need to fiddle with spreadsheets!
- Finally, a mileage app is much more convenient than paper. With an app, you can track your mileage anytime, anywhere. No need to wait until you get home to record your mileage log for taxes!
Most Important Mileage Tracker App Features
We’ve done the research and compiled a list of the most important mileage tracker app features. So, whether you’re a small business owner or a busy professional, you can find the perfect app for your needs.
1. Automatic Tracking
The best mileage tracker apps will automatically track your trips. That means you don’t have to remember to start and stop the app every time you get in and out of the car.
2. GPS Tracking
GPS tracking is a must-have for any mileage app. After all, you need to know how far you’ve driven and where you’ve driven.
3. Trip Logging
Trip logging is another important feature to look for to maintain a mileage log for IRS. This allows you to see all of your past trips, which can be helpful for tax purposes or to get mileage reimbursement.
Reporting is essential if you want to be able to track your mileage for tax purposes or for reimbursement from your employer. Look for an app that offers detailed reports that you can easily export.
5. Expense Tracking
If you’re using your mileage tracker app for business purposes, then you’ll need to be able to track your expenses. That way, you can deduct them from your taxes. Look for an app that lets you track fuel, parking, and tolls.
Forgot to Track Your Mileage?
If you’re like most people, you probably don’t track your mileage on a regular basis. Maybe you only track it when you’re trying to save money on your taxes. Or maybe you only track it when you’re driving to work. Whatever the reason, if you forgot to track your mileage, don’t worry – you can backtrack it with MileageWise.
MileageWise is a simple, easy-to-use mileage tracking app that allows you to backtrack your mileage for any given period of time. Once you set just a few parameters, the app can auto-populate trips and even offer you a recommendation for all of your missing trips!
VIP Mileage Log Preparation Service
MileageWise is the only company in the world that provides a VIP mileage log preparation service. Our innovative mileage tracker app and web dashboard help in preparing mileage logs for business owners and executives.
We understand the importance of accurate mileage logs and the impact they can have on your business. That’s why we offer a hassle-free, efficient, and affordable service that will help you save time and money.
If you’re looking for a hassle-free way to keep track of your business mileage, then look no further than MileageWise. We’re the only company in the world that offers a VIP mileage log preparation service, and we’re dedicated to helping you save time and money. Contact us today to learn more about our services, or visit our website to learn more about our software.