MileageWise BlogIRS

July 6, 2023 Brace yourselves, fellow travelers! We're about to take a scenic drive through the twists and turns of IRS mileage allowance. Yes indeed, those seemingly tiny miles can accumulate into a mountain of savings over the year. And with the current IRS mileage rate cruising at a smooth 65.5 cents per mile, there's…

Last updated on May 22, 2023 Picture this: You’re a hard-working freelancer, a budding entrepreneur, or an on-the-go gig worker, and your vehicle is as much a part of your work life as your laptop or your toolbox. But did you know that your trusty four-wheeled companion could be a hidden source of tax deductions?…

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,…

When it comes to tracking your mileage for tax purposes, it's not just about keeping track of the miles you drive for business purposes - it is also paramount to log your personal miles. This includes any miles driven for personal reasons, such as commuting or running errands. In this article, you can find 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…