For drivers who use their personal vehicle for business purposes, mileage tracking is a must. These days, it’s the most efficient way to earn major savings on your tax return and make up for the wear-and-tear on your vehicle. Though individual mileage tracking has commonly become the go-to option for self-employed, freelancers, and small business owners, today we want to highlight the advantages of mileage tracking for teams.
Business owners can finally put disorganization to rest and rely on a trusted automated system for mileage logging. Those who operate teams as little as 5 or 20 can now keep track of all employee drives by signing up for MileIQ for Teams. This simple and powerful tracking tool has the ability to transform the efficiency and tax outlook for your business. So, let’s begin by showcasing how simple it is to get started.
Adding MileIQ for Teams to your work routine is as easy as joining a Zoom meeting on your desktop. You can sign up in a few minutes time and from thereon you’ll have a team account with complete access to employee drives. Not only does this improve workplace organization and save time, it better prepares your business for tax season. Perhaps the best part about MileIQ is the benefit it gives to your employees.
Aside from employer satisfaction, your employees will love how effortless it is to track work mileage. They can easily connect by downloading the app, signing in with their corporate domain, and voilà — mileage tracking begins! No need to fret over marking odometer readings or writing down the start and stopping point of business trips each time you drive. The app works to employees' advantage by running in the background as you focus on work-related tasks at hand.
If your employees spend a majority of their time on the road, MileIQ for Teams is well worth the investment. Currently there are three pricing options for companies who want to innovate with automated mileage tracking: Teams Lite, Teams, and the most recent addition, Teams Pro. Below we’ve briefly detailed each of the pricing options to help employers find the best solution to their outdated mileage tracking method.
Price: $4.17 per user, per month when billed annually, or $5 billed montly
Price: $6.67 per user, per month when billed annually, or $8 billed monthly
Price: $8.33 per user, per month when billed annually, or $10 billed monthly
Yes! Even though the IRS does not require digital reports for mileage tracking, MileIQ’s system has helped over 1 million active users earn back money on their tax return. Its proficient reporting system complies with all the IRS requirements. In any case, well organized records are always favorable for tax purposes.
Here’s where things really get powerful…You can even deduct the cost of MileIQ on your Schedule C form! There’s not many tools out there that will benefit your business and count as a qualifying tax deductible.
Your business won’t regret the convenience and efficiency that MileIQ for Teams offers. With volume pricing that gets better as you grow larger and automated license management, you can make sure employee drive data is accurate and complete. Instead of worrying about mileage logging, you can trust in the valued reputation of MileIQ to carry your business into the future.
Interested in learning more? Visit the MileIQ Help Center for access to resources regarding taxes and small business tips.