As a business owner, you must keep accurate, detailed, and IRS-compliant travel records. This is a time-consuming task and can be stressful.
Fortunately, many apps make mileage tracking easy. Whether you’re a rideshare driver or an employee, you can find an app that suits your needs.
Accuracy
If you’re a small business owner, you know how challenging it can be to keep track of the mileage your employees take on their vehicles. Manually recording the time, location, travel, and distance is tedious and can lead to mistakes and inaccuracies that make it harder to get reimbursed or claim a tax deduction.
There are several ways to do this. One is to use a spreadsheet or paper log, but that requires a lot of attention to detail and can easily be forgotten and lost.
Another way is to use a specialized mileage tracker app that makes it easy to record every trip, even when you’re not at the office. That way, you can ensure you take all trips eligible for tax deductions or reimbursements.
Some of the best mileage trackers for small businesses and independent contractors. They’re all highly rated apps offering multiple expense tracking and IRS compliance options. They also provide downloadable mileage logs that save you time during tax season.
Speed
Choosing the best mileage tracker app is a great way to keep up with your driving miles and ensure they’re correctly recorded for tax deductions. This type of app typically requires a bit of input from the driver, but it automatically collects and organizes your files.
There are a few different options available to choose from, including Everlance and Triplog. These are both popular choices among freelancers and employees who need to track their trips for reimbursements.
Keeping your miles accurate and organized is essential for filing taxes; these apps make it easier! Some apps even offer a tax estimator to help you estimate how much you’ll owe for taxes before filing.
The app’s premium version also lets you import your categorized income and expenses into your accounting software, saving time and hassle! It also helps you stay tax compliant by generating IRS-compliant reports, making your life easier when you show the IRS that you’re eligible for car deductions.
Flexibility
You must track your mileage if you’re a self-employed freelancer or small business owner. This is important because it can help you maximize the tax deductions for business miles.
It will track your business trips for you, but finding one that meets your specific needs is essential. A good app should provide automated tracking, customizable trip statistics, and instant notifications.
A good mileage tracker will also allow you to keep detailed, IRS-compliant records at your fingertips. This can be helpful during tax season, especially if you’re using an online tax preparation service.
A good mileage tracker app will automatically classify your trips, separating them into business and personal. They’ll also automatically record the time you spend on each trip, making getting reimbursed for your travel expenses easier.
Convenience
If you run a small business, a mileage tracker app can be a valuable tool for keeping track of your mileage expenses. It helps you keep up with your tax responsibilities and saves you time and money in the long run.
Independent contractors and entrepreneurs are often busy individuals, and it can be challenging to remember to log their travel for business purposes. A mileage tracker app can help you avoid missing trips that could result in significant tax deductions.
A good mileage tracker app is easy to use and can save you a lot of time. Its simple interface allows you to quickly capture all of your business miles, so you can spend less time calculating your mileage and more time growing your business.
Some apps also offer GPS-backed drive-detection technology, allowing them to automatically log and track your trips, calculate the value of your drives for taxes or reimbursements, and create compliant mileage logs. These apps can be downloaded from Google Play and the App Store, and some even include free versions that let you track a limited number of trips before upgrading.
Taxes
If you run a business or are an independent contractor, you can save much money on your taxes by tracking mileage. The IRS allows you to deduct the miles you drive for work, such as meeting clients or buying office supplies.
A mileage tracker app makes keeping accurate, detailed records easy and convenient. These apps automatically save all your trips in one place and make it easy to compile tax-compliant reports later.
Another benefit of using a mileage tracker app is that it can help you identify potential tax-deductible expenses, such as tolls and fuel. This can also save you time and money when filing your taxes.
The free version of Hurdlr lets you record business and personal miles automatically, categorizing them by type of trip and providing IRS-ready data reports. Their Premium version includes a tax estimate and tips to increase your deductions.
