If you’re someone who frequently travels for work, or manages employees who travel for work, then a mileage calculator for reimbursement can come in handy. Not only does it provide an accurate reflection of the miles you or the employees you manage have covered, but it also ensures that you’re compensated correctly.
What is the Mileage Reimbursement Calculator?
MileageWise’s Mileage Reimbursement Calculator is an online tool tailored to assist self-employed people, companies, and employees in accurately calculating the mileage reimbursement allowed for business travel. This calculator takes into consideration the current IRS mileage rate for business and delivers a quick, clear output of what the mileage deduction figure is.
Please note that simply submitting your reibmursement calculations doesn’t qualify as submitting an IRS-Proof log, but MileageWise is here to help you.
How to Use the Calculator
Input Your Mileage: Start by entering the total miles traveled for business purposes. Input the Date Range: Select the year to be calculated. Calculate: With a single click, the calculator processes the input data and provides the total reimbursement amount. Review and Share: You can review the detailed breakdown, save it for your records, or share it as needed.
Stay Updated with the Standard Mileage Deduction Rate
Tax rules and standards change, but with MileageWise, you’ll always be updated with the standard mileage deduction rate. This ensures that you’re always compliant and making claims according to the latest standards.
You can also check out rates from past years:
Year
Standard (¢/mile)
Medical (¢/mile)
Charity (¢/mile)
2017
53.5
17
14
2018
54.5
18
14
2019
58.0
20
14
2020
57.5
17
14
2021
56.0
16
14
2022
58.5
18
14
2022 (Jul-Dec)
62.5
22
14
2023
65.5
22
14
2024
67.0
21
14
The IRS can request past mileage logs for up to three years, so remember to revisit this table or make notes in case you receive an audit.
Venturing into Self Employment Deductions
For the self-employed and small business owners, every deduction counts and mileage is a significant part of self-employment deductions. With MileageWise, tracking these miles and ensuring you’re getting the rightful deductions becomes a breeze.
With all these features in place, making a mileage claim calculation is effortless. Forget about manually logging miles or keeping countless receipts; MileageWise has got you covered for both ongoing and retrospective tracking and claims.
Download MileageWise’s automatic mileage tracker app from Google Play or the App Store & try it for free for 14 days. No credit card required!
Did you know that you can claim tax deductions for three years retrospectively? If you have your past records, MileageWise makes sure that the possible claims for your trips will be calculated with their respective mileage rate.
But what if you have trip gaps and your records are missing? No worries at all! You most probably had your Google Maps enabled, so MileageWise can just take those Google Timeline records and take those Google Timeline records and turn them into IRS-Proof mileage logs for the previous years or this year, too.
Is your Google Timeline disabled? MileageWise can handle it! Our advanced AI Wizard can create your retrospective mileage log even without Google Timeline data. By analyzing your driving habits and patterns, the AI Wizard suggests trips and fills in the gaps, ensuring you have a complete and accurate mileage log for IRS compliance.
The Ultimate Deduction Tracker
Apart from mileage, there might be other deductions you want to track such as your vehicle expenses. MileageWise doubles as a vehicle expense tracker, ensuring that all your car-related expenses are calculated.
MileageWise’s Comprehensive Dashboard
Another feature that sets MileageWise apart is its comprehensive dashboard. It provides a visual representation of your travels, expenses, and reimbursement amounts. This can be particularly useful for audits, offering a clear and detailed overview of your mileage data.
The dashboard also lets you manually edit and add trips and manage retrospective records imported from Google Timeline.
MileageWise – The Ultimate Solution
In the world of business travel, the difference between using manual tracking methods and a comprehensive mileage reimbursement calculator like MileageWise can be significant. With features ranging from a gas mileage reimbursement calculator to a deduction tracker, MileageWise is the perfect companion for every professional on the move.
Download MileageWise’s automatic mileage tracker app from Google Play or the App Store & try it for free for 14 days. No credit card required!
