August 23, 2019
Having a car is a necessity. For most of us, it is our working tool, irreplaceable, almost unimaginable to live without. We pick them carefully, so they would meet our needs and we take good care of them, so they would serve as for a long time.
But do you know how much owning a car is exactly costs you exactly?
According to the American Automobile Association operating and maintaining a car can cost you an average of $8,469 a year, and it just goes up with the miles you drive. For example, driving 20,000 miles a year can add up to $10,000.
But a little care, consciousness, and the use of a few good practices you can split your costs into half, not to mention doubling your tax deduction when it comes to claiming business mileage on your annual tax return.
Wanna know how?
Regulate your driving habits
The easiest thing to implement is the change in your driving habits for the better. Be a little bit more careful when on the road. Don’t rush, try to keep your driving speed at 50 mph, at most. And we’re not just saying this, because we care about your high blood pressure level when you rage on the road while speeding. If you go faster than this magic number, your fuel efficiency level rapidly starts to drop. In figures: driving faster than 50 mph will result in 18 cents more per gallon of gas.
Speeding, hard braking, and rapid acceleration can all reduce your fuel efficiency by up to 40% in stop-and-go traffic. And it’s not just us saying it, it’s the official standpoint of the U.S. Department of Energy.
Use your overdrive, when on the highway. It can save you a lot of gas. Just as planning ahead when buying gas. Use free apps comparing gas prices and choose the closest and cheapest station.
Also, use your Air Conditioner wisely. Inside Energy recommends rolling down your window instead of using your AC when driving slowly, while using your AC when driving faster. This way wind drag won’t reduce your fuel economy.
When it comes to refueling, don’t pay for expensive premium gas, when in your owner’s manual it is clearly stated that you only need regular-grade fuel. Not worth it, it won’t extend the life of your engine. You’re just throwing money out of the window.
Spend on motor oil instead as the wrong viscosity grade can lead to more friction, which can actually reduce the lifetime of your engine.
Look for independent, small gas stations instead of chains as their quicker in dropping gas prices when it comes to it.
Again, take good care of your car
Don’t buy enhancers, as even the better ones can’t live up to their promises. According Federal Trade Commission. And the cheap ones might even harm your engine.
Spend less but more often on maintenance. It will pay off later.
Wax your car from time to time. It saves you that $1,000 you would spend on repainting it. Keep your car from the harmful weather conditions and wax it every 3 months if you can.
Try to do as much as you can by yourself. Rotate the tires if you have to, hoover those car floors and seats. Or wash your car at home. Don’t spend on these luxury services as they don’t require special knowledge and you can do them at home with a very low risk of causing extra damage to your car.
And last, but not least:
Claim tax deductions, and support your claim with a mileage log
Did you know, that by keeping sufficient documentary evidence of your expenses you could write off all of the following:
- Lease payments
- Garage rent
- Parking fees
But even better, you can save an average of $5,600 on the mileage you drove.
All you have to do is keep a meticulous mileage log and file it at the end of the tax year along with your tax forms. And that is the point where drivers usually say no.
Because it’s all about being careful, conscious, and prim. And these are hard to be.
But with MileageWise, we minimized the downsides for you:
You can record your trips and refuelings on the go. The MileageWise mobile app launches when you arrive at a particular location – the app recognizes which partner you have arrived at and you only need to approve it with the touch of a button!
It doesn’t drain your phone’s battery on the go, and doesn’t use up all your data for the month!
With the Recurring daily trip option, you can set up a set of destinations, which you’ll only have to do once. It will take half as long to record your log this way, you’ll see.
With our unique AdWise feature, you can even retrospectively complete your log by recording your previous trips later in the month.
And in the process, the Built-In IRS Auditor checks and corrects 70 logical conflicts, so your recommended mileage log will be IRS-proof, meeting all the expectations, without a doubt.
With MileageWise, mileage logging is child’s play.
But if you still don’t want to deal with it: outsource it to our experts, who’ll be happy to help by creating your recommended IRS-proof mileage log, which will meet every expectation!
Try MileageWise without obligation! The trial period is 14 days with full features. No credit card needed.
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