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IRS Audit Triggers: How MileageWise Helps Staying Compliant

Last updated on Febraury 20, 2024  Understanding IRS audit triggers is crucial for anyone filing taxes, especially for self-employed individuals and small business owners. An IRS audit can be time-consuming and stressful, but being aware of common triggers and maintaining accurate records can significantly reduce your risk. In this article, we'll explore key IRS audit…

How MileageWise will protect you from an IRS mileage audit

Last updated on October, 2023  Hey there, fellow drivers! Did you know that the IRS is always watching you? That's right; they're keeping an eye on your mileage records to make sure you're not cheating on your taxes. If you're like most people, keeping accurate mileage logs can be a real pain in the neck,…

IRS Publication 463: Car-Related Business Expenses & Deductions

Last updated on October 18, 2023  IRS's Publication 463 describes what costs are deductible, how to include them on your tax return, what documents you need to show your expenses, and how to handle any refunds you could get for your expenses. In this article, we've collected the most essential information you need to know…

IRS Mileage Log Requirements: The Definitive Guide

Last updated: May 31, 2024 If you use your personal vehicle for business purposes, the IRS allows you to deduct a portion of the expenses incurred as a tax write-off. To claim these deductions, you must keep a detailed record of all business-related miles driven, known as a mileage log. Keeping an accurate mileage log…

IRS Mileage Guide: The Manual to IRS-Proof Mileage Logging

IntroductionIf your drive a car for business, you could be eligible to claim the expenses on your federal income tax return. Therefore, if you're a mobile financial planner who travels to clients all over the city, you may write off the miles you rack up while operating a vehicle for work.In this article, we’ve collected…