MileageWise Blogfood for thoughts

Free MileageWise Live Demo for $12,000 annual tax savings

Would you like a mileage log expert to guide you through the software of MileageWise? If so, the free MileageWise Live Demo is just for you! MileageWise Live Demo is a free video call during which we'll show you step-by-step how MileageWise works - this knowledge is worth an average of $12,000 in annual tax…

How To Keep an IRS-Approved Mileage Log

Last updated: January 2, 2023 Driving is an essential part of everyday work for millions of Americans. If you’re one of them, you might be eligible for a cost deduction on your federal income tax return. Gig workers, real estate agents, self-employed people, and small business owners are all able to deduct the miles they…

Can I Switch From Actual Expenses to Standard Mileage?

June 13, 2022 Using a car for business generates a significant amount of expenses for those who drive their vehicle to create revenue, leaving many wondering how to deduct mileage on taxes. The Internal Revenue Service (IRS) offers 2 ways to calculate how much you can deduct from those expenditures each tax year - these…

IRS Increases Business Mileage Rate

June 10, 2022 The IRS has just announced a mid-year business mileage rate adjustment for the final 6 months of 2022. The new federal business mileage rate will be 62.5 cents per mile, which is a 4-cent increase from the rate of 58.5 cents that will be in force until June 31, 2022. Why is…

MileIQ: A Comprehensive Overview

Last updated on November 15, 2022 MileIQ is one of the most downloaded mileage tracker apps you can find on the market. It gained most of its popularity via being a part of Microsoft’s 365 subscriptions. It has its pros and cons, we’ll go through them in this article. “Is it worth it to track…