Welcome to MileageWise!
We’re 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 expenses method, we’re here to ensure you have accurate, easy-to-read logs for your tax reporting and reimbursement needs.
Get started with MileageWise today and experience the convenience and efficiency of our smart mileage tracking solution!
Mileage Log Sample – Standard Mileage Rate
The standard mileage rate method is a simple and straightforward way to calculate your vehicle expenses. With this method, you’ll be reimbursed a fixed rate per mile driven for business purposes. As of our knowledge cutoff in September 2021, the IRS set the standard mileage rate at 56 cents per mile for business use. Please check the current rate on the IRS website.
Mileage Log Sample – Actual Expense Method
The actual expenses method allows you to calculate your vehicle expenses based on the actual costs incurred for your vehicle’s operation. This includes costs such as gas, oil, tires, insurance, registration fees, repairs, and depreciation. To use this method, you’ll need to keep detailed records of all expenses related to your vehicle.