May 31, 2023 MileageWise is here to help you keep track of your vehicle expenses in the most efficient and accurate way. To help you better understand how our system works, we’ve prepared two mileage log samples that showcase both the standard mileage rate and the actual expense methods. These two samples illustrate the different ways MileageWise can help you manage your vehicle expenses. Whether you choose the standard mileage rate or the actual expense method, we’re here to ensure you have accurate, easy-to-read logs for your tax reporting and

Last updated on October 24, 2023  Let’s dive straight into the nitty-gritty. The task of meticulously tracking business mileage for tax deductions is as monotonous as watching paint dry. Manually scribbling down odometer readings, and flipping through tattered paper logs – it’s tedious, to say the least. Enter the Electronic Mileage Log, the game-changing savior for freelancers, gig workers, and small business owners alike. If you’re sitting there, eyebrows raised in skepticism, wondering if this savior is all it’s cracked up to be, you’re in the right place. We’re delving

Last Updated: October 24, 2024 If you’re a business owner or self-employed individual who uses your personal vehicle for work purposes, keeping an accurate record of your mileage is crucial. Not only can such current mileage management systems help you maximize your tax deductions, but they can also provide an added layer of protection in case of an audit. And while there are numerous cutting-edge distance reporting tools for keeping track of your miles, IRS publication 463 recommends keeping a contemporaneous mileage log. However, what happens if you didn’t record

Last updated: January 6th, 2025 Did you know that American taxpayers fell short of $1 billion in refunds because they didn’t file their tax returns for the year 2020? If you drive a car for a business purpose, there’s a good chance you are eligible for a mileage tax deduction on your federal income tax return, up to 3 years in retrospect. This guide will help you understand how to log miles for taxes efficiently and maximize your 1099 deductions. We promise to provide clear, actionable tips to simplify mileage