Your mileage log must include:
- The total Mileage you drove in the Tax Year for Business, Commuting, and Personal Driving other than Commuting;
- The First Odometer or the Last Odometer reading of the year;
- The Dates of your Business trips;
- The Address of the Business Partner you’ve visited;
- And the Purpose of your Trips.
Watch out for the landmines
In theory, it sounds like an Easy Task to keep track of your Trips. In practice, the IRS can request ALL of your Business Data: Business Expense reports, Odometer readings recorded at the Mechanic, Traffic cams, Tolls, Fees, etc. If these documents do not match with your Mileage logs an IRS Fine can be 50% of your Yearly Income!
Choose the smartest solution
Traditional Mileage Tracker Apps / Excel Sheets / Templates / Samples will not perform even the simplest check-ups in your mileage log such as checking whether your odometer readings are realistic or not. While Mileagewise Investigates 70 Logical Conflicts before printing to ensure your Mileage logs are IRS-Proof!
Be wise, choose MileageWise
Keeping a Mileage log on Paper can take up 3-5 hrs of your Time/Month. With MileageWise the same task is 7 Mins/Month. You can always decide:
- Keep your log on Paper and pay with your Time.
- Keep your log with Free or Cheap software and pay the IRS Fine.
- Keep your log with MileageWise and save half of your Income.
- Outsource the task to our Mileage Log Experts and save your Time and Money.
Don’t forget, your MileageWise Subscription is Tax deductible as a Business Expense!
Useful links for mileage logging
- Calculate your past odometer readings
- Estimate your actual fuel consumption
- Publication 463, Travel, Gift, and Car Expenses
- Topic No. 305 Recordkeeping
- Publication 583, Starting a Business and Keeping Records
- Tax Guide for Small Business (For Individuals Who Use Schedule C or C-EZ)