You can use your mileage on taxes to lower your taxable income but only if you’re maintaining an accurate mileage log.
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On this page, you’ll find tips for how to best maximize your miles for tax purposes. This includes knowing what drives you can write off, what the IRS is looking for in your records and other best practices well-suited for small business owners, self-employed workers and freelancers.
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I recently had the opportunity to travel around the beautiful Northern California Bay Area to try out MileIQ and track my reimbursable business miles as a part-time blogger. Here's my story. ...Read more
Q: As a self-employed professional, I do a lot of driving and consequently rack up a lot of business mileage. This year my mileage deduction will be well over $7,000. A friend told me that a maximum ...Read more
If you claim the mileage deduction on your tax return, you need to be able to back it up with an adequate mileage log in the event of an IRS tax audit. Failure to do so could prove costly. Alvaro ...Read more
Being a Lyft driver is a nice way to earn some money but be sure you know about your tax liability and deductions. Let's go over a Lyft driver taxes, so you'll be ready come tax time. Keep in mind, ...Read more
When you use your car for business there are two ways to calculate your deduction: using the standard mileage rate or the actual expense method. The standard mileage rate method has remained the same ...Read more