As New Year’s Day rolls around, it’s time for you to recover and plan for 2019. One of the best things to do is to get the most out of your miles in 2019. That all starts with recording your odometer reading into MileIQ.
Why Do I Need My Odometer Reading?
If you want to take the mileage deduction, you’ll need detailed records of your drives. This includes recording your 2018 ending odometer reading and your 2019 starting reading (this should be the same number). You’ll need this information when claiming your deduction on your Schedule C.
How To Add Odometer Reading To MileIQ App
It’s simple to add your odometer reading to MileIQ through the app. Do the following:
- Open the MileIQ
- Tap on the upper left menu button
- Tap on “Account Settings”
- Select on “Vehicles,” under Personalization
- Select the vehicle you would like to edit
- Enter your odometer reading for 2019
How To Add Your Odometer Reading To The MileIQ Web Dashboard
You can also add it through the MileIQ Dashboard. Here’s how:
- Log in to the MileIQ Dashboard using the same e-mail and password you use for the app
- Click on “Settings” in the top-right corner
- Select “Vehicles & Odometers” under “Personalization”
- Click on your existing vehicle listed
- Fill in your 2018 odometer reading
- Click on the “Update Vehicle” button
You can find more details on how to add your odometer reading in this support article.
How To Get The Most Out Of My Miles In 2019
Remember to track all your miles for the year. Every business mile can lead to an increased mileage deduction, which can potentially lower the amount of taxes you’ll owe.
You can lean on a mileage-tracking app like MileIQ to automatically track your miles in the background. You can just drive like you normally would and MileIQ will create a mileage log for you.
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MileIQ’s blog does not constitute professional tax advice. You should contact your own tax professional to discuss your situation.