Are you leaving money on the table with your retirement savings? 2025 brings new contribution limits and chances to maximize retirement savings. You can now put up to $23,500 into your 401(k). If you’re 60 to 63, you can also make “super catch-up contributions.” These changes could be huge for your retirement plans. Don’t miss out—learn how to use these updates today! Level Up Your Mileage Tracking MileageWise: Tracks trips automatically via vehicle movement, Bluetooth, and Plug’N’Go without draining your battery. AI-Powered Mileage Recovery: The AI Wizard helps reconstruct past mileage logs,

No one wants to deal with an IRS penalty, but if you’ve received one, you’re not alone. The IRS issues millions of penalties each year for reasons like late tax filings, underpayment of taxes, and accuracy-related errors. These penalties can quickly add up, with interest charges making the total amount even higher. But the good news? Many penalties can be reduced, removed, or even avoided altogether—if you know the right steps to take. In this guide, we’ll break down the most common IRS penalties, how they are calculated, and, most

Last Updated: March 3, 2025 Common IRS audit triggers include unreported income, claiming large deductions compared to your income, and reporting high self-employment income or expenses. Other red flags that may trigger an IRS audit are taking the home office deduction, running a cash-based business, dealing with cryptocurrency or foreign accounts, and making noticeable errors or inconsistencies on your tax return.  In this article, we’ll explore key IRS audit triggers and how MileageWise plays a vital role in ensuring IRS compliance, particularly in mileage logging. We’ll also provide comprehensive FAQ sections for certain topics and a best practices section to address

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, but an IRS audit for you as a self-employed individual is even more so…especially if you’re not aware of the IRS audit requirements. But fear not, MileageWise is here to save the day (and your

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 as somebody who drives a car in order to create revenue. Which part of Publication 463 is about car-related deductions? Section 4 of Publication 463 provides guidance on tax deductions related to car expenses. The