Glossary

• Actual Expense MethodThe deduction of actual vehicle expenses, including depreciation, licenses, tires, garage rent, gas, oil, towing, insurance, vehicle registration fees, lease payments and fees, and repairs.
• AdWise WizardMileageWise's AI-powered function that recommends realistic trips based on your driving habits to fill in the missing gaps in your mileage log for an IRS-proof result.
• Business expensesThe IRS defines business expenses as ordinary and necessary costs incurred to operate your business.
• Business mileageMiles covered for business-related purposes. (deductible!)
• Car allowanceA sum of money that an employer offers a worker who needs to utilize a vehicle for work purposes.
• Charity mileage rateThe deductible cents per mile driven for charitable purposes provided by the IRS.
• Concierge ServiceMileageWise's premium service where our mileage log experts take on the task of creating your mileage logs for you.
• CPACPA stands for Certified Public Accountant. It's a professional designation in the field of accounting, indicating that the individual has met certain education and experience requirements, and has passed a standardized examination.
• Drivers' logbookA truck driver's paper record that lists the time spent on duty, behind the wheel, and in a sleeping berth.
• Excel mileage logA mileage log in the form of an Excel spreadsheet.
• FAVRFAVR stands for Fixed and Variable Rate. It's a method used by companies to reimburse employees for the business use of their personal vehicles.
• Google MapsGoogle Maps is a world-renowned application that billions of people use daily for navigation, looking up stores, restaurants, and addresses, and of course, it is used by many for work-related tasks.
• Google TakeoutGoogle Takeout is a service of Google where you can download your Google Location History via Timeline import in JSON format.
• Google TimelineGoogle Maps Timeline displays where you have gone and the routes you have taken based on your Google Location History.
• Independent ContractorAn independent contractor is a self-employed person or entity contracted to perform work for or provide services to another entity as a non-employee.
• IRS AuditAn IRS audit is a review/examination of a company's or person's financial records to make sure the data is reported accurately in accordance with the tax regulations and to confirm the stated tax amount is accurate.
• Medical mileage rateThe deductible cents per mile driven for medical purposes provided by the IRS.
• Mileage calculatorCalculates the driving distance between two locations.
• Mileage deductionA type of tax deduction to include on your IRS tax return. It's intended to cover all your costs associated with using your car for work-related objectives.
• Mileage logA record of the miles driven in a vehicle used for business that is used to support deductions for vehicle usage. You can use a mileage log to request mileage reimbursement or a tax deduction.
• Mileage reimbursementWhen businesses compensate workers for driving-related expenses, which include fuel costs, maintenance, and vehicle depreciation.
• Mileage trackerA tool, usually in the form of a software/application used for tracking miles driven.
• Mileage tracker appA mobile application used for manually or automatically tracking your miles driven.
• Moving mileage rateThe deductible cents per mile driven for moving purposes provided by the IRS.
• OdometerOdometer is a device in a vehicle, that measures and shows the distance it travels.
• Per diem allowanceFunds provided to employees in order to cover their travel-related accommodation, food, and incidental costs.
• Personal mileageMiles covered for personal purposes. (non-deductible!)
• Retrospective mileage logA mileage log created from a prior period.
• Self-employedIf you own your business or do freelance work, you're self-employed. Self-employed people don't work for an employer.
• Small businessA small business is generally an independently owned for-profit enterprise that employs 500 or fewer persons.
• Sole ProprietorA sole proprietor is a type of business structure in which an individual owns and operates a business as a single entity.
• Standard Mileage RateThe standard mileage rate is the cost per mile that the Internal Revenue Service (IRS) sets for those who claim the use of a vehicle as a deductible expense.