Does keeping track of your mileage have you struggling to log the places you’ve been, and who you were there to meet?
Well, there is new technology that is making this easier than ever. Most people traditionally would keep some sort of paper mileage log. They would then have to input it into a spreadsheet after getting back to the office and at tax time add the miles up.
With tax season rapidly approaching we want to show you that there is a different way. Many people are now keeping track of their mileage on different smart phone apps and they can use those apps to export their mileage, and client details.
As smart phones become a larger part of everyday life, we are always looking for ways to utilize them to help make our lives easier and more efficient. As I explain to clients, it is important to keep track of your mileage that you travel for work so that you are able to write off the mileage at the end of the year for a tax deduction.
Some of the most popular mileage apps include:
The allowed amount to claim for mileage in 2016 dropped to .54 cents per mile. This makes it all that much more important to keep track of your mileage efficiently to receive the most tax benefit from your work related travels. When it comes to tax season, the more that you have kept track of these types of expenses throughout the year, the better we are able to claim as deductions to maximize for your benefit when preparing your tax returns. Something as simple as running down the road to meet a client at the local eatery, or driving downtown for a trade show or education can add up. So, take a few minutes to look at some of the available smart phone apps and try one out today. Let technology do the heavy lifting when it comes to business expenses. Come next tax season, you’ll be glad you did.