By keeping a simple mileage log that keeps track of your miles driven and categorizes them in a way that makes sense for your business, you’ll be able to minimize any taxes you may owe and stay organized all at the same time!
Who has to track Mileage and why?
Tracking mileage for taxes is required by law in many states, and it is also increasingly becoming a requirement for many companies that offer fleet services. It’s important that you know how to track mileage for work.
- Maintaining a simple mileage log can help you figure out how much gas you’re using. Fuel savings are especially important when you’re trying to save money.
- A mileage logbook app can also help you figure out which routes are the most efficient. If you know that you’re spending more time driving on the highways than you are on the smaller roads, you might want to try to cut back on your mileage a bit.
- Identify problems with your car. If you notice that your car is losing fuel mileage quickly, for example, that might be an indicator that there is something wrong with your engine. By tracking your mileage with a mileage log app, you can figure out what needs to be fixed and when.
Tracking Mileage for Taxes: The Technical Side
Tracking your mileage for tax purposes is not difficult. You can write it down in a journal, use pen and paper, or use a mileage tracker app.
- If you’re using Excel, make sure to keep track of the date, the mile marker, and the type of trip (work, personal, etc.).
- With pen and paper, you’ll need to also keep track of the amount of miles traveled.
- A mileage tracker app will help maintain an IRS approved mileage log and keep track of additional information like the amount of miles travelled, and the time of day.
Features important in a Mileage Tracker App
If you’re in the market for a mileage tracking app, there are a few features that you’ll want to look for.
- The first is a system that can automatically track your mileage log for IRS. This is important because it can help you keep track of your progress and ensure that you’re able to claim the maximum possible mileage reimbursement.
- The app should also provide you with a report that can show you how much you’ve saved and how much money you’ve earned using the standard mileage rate.
- It’s also important that the app is easy to use and provides you with ample guidance along the way.
Forgot to track your Mileage? (You can backtrack it with MileageWise)
MileageWise is a great tool for tracking your mileage. It helps you backtrack your trip, so you can see where you’ve been and see how much you’ve traveled.
MileageWise is easy to use. Just enter your trip start and end points, and it will automatically track your mileage. You can also use the map to see where you’ve been and plan your next trip.
VIP Mileage Log Preparation Service
This service from MileageWise can help you get the most out of your rewards by ensuring that all your travel is logged correctly and accurately.
Whether you’re looking to rack up extra miles and levels on your loyalty program, or just want to make sure your travel is accurately reflected on your tax return, MileageWise can help.
Our team of experts can help you create a mileage log for taxes that is accurate and up-to-date, ensuring that you get the most rewards for your travel. We can also help you correctly claim your rewards on your taxes, saving you time and money.