MileageWise Blogtax

MileageWise: Your Ace in the Hole for Tracking Mileage for Taxes

May 26, 2023 Alright, folks, picture this: You’re a go-getter freelancer, a hard-charging small business owner, or one of the unsung heroes of the gig economy. You're running the proverbial rat race, and let’s be honest, it's a jungle out there. But, amidst the hustle and bustle, have you ever thought, "Am I overlooking something?"…

Tax Preparation Service – Specialized in Mileage Logs

Last updated on February 28, 2024  Embarking on the journey of tax preparation can often feel like navigating through a labyrinth, especially for those juggling multiple roles such as independent contractors, freelancers, and business owners. Let's dive into the essentials of managing taxes effectively, highlighting tools and strategies that can make this process as smooth…

Google helps with your mileage log

Last updated: October 24, 2023  Nobody likes getting letters from the IRS, period. If you do receive one, however, you’d better act as quickly as possible in order to avoid an IRS fine, which is sometimes an enormous amount. Mileage logging is no exception: if you had claimed a business mileage tax deduction that the…

Can I Switch From Actual Expenses to Standard Mileage?

Last updated: April 26, 2023 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…

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…