If you’re a business owner and use MileIQ for personal use, you’re already off to a great start! But what if you could maximize your business’s tax savings as well? More specifically, the tax savings of your employees who use their personal vehicles for work-related tasks.
Luckily, with MileIQ for Teams, that is a possibility.
We know that business owners aren’t always privy to the advantages of automatic mileage tracking nor understand its significance until tax season comes about. In fact, many employers and employees fail to keep up with accurate mileage reporting, which only welcomes the likelihood of an IRS audit down the road.
Well, we’re here to show just how easy it is to ditch those inaccurate mileage logs and implement a new system that is both affordable and beneficial to both parties. Let us take a moment to introduce our latest software advancement — MileIQ for Teams.
In this day and age, mileage reimbursement remains one of the biggest tax write-offs you can take as a qualifying independent contractor or business owner. Yet in order to be eligible for this common deduction, the IRS expects you to maintain sufficient records to back up your claim.
That’s where MileIQ steps in.
Compared to manual mileage logging that is often time-consuming and prone to mistakes, our comprehensive app does the work for you. MileIQ’s software automatically tracks business miles from the start of every drive until you’ve reached your intended destination. With MileIQ for Teams, in particular, employees can easily log their business drives from the convenience of their smartphone.
From an employer standpoint, the utility doesn’t stop there. Subscribing to MileIQ for Teams allows business owners to keep contemporaneous records of employee drives all from one organized system. This takes the hassle out of keeping paper records for every employee, which can often get misplaced due to human error.
With MileIQ, not only do you get the security of knowing your drives are kept safe and digitally stored, you also can have better peace of mind should an IRS audit take place.
As a top-rated automatic mileage tracking app, our software offers a distinct opportunity for employers and employees to earn back savings on their tax return. Similar to MileIQ for Drivers, MileIQ for Teams automatically detects and logs employee business drives and keeps them stored in a cloud-based system.
Fortunately, the days of stressing over employee mileage are a thing of the past. Rather than requiring workers to manually log every business mile from an odometer reading, they can now stay focused on the task at hand while having the MileIQ app run in the background of their cell phone.
How does it benefit the employer? Just as your employees can appreciate the ease and functionality of MileIQ for Teams, so can you. Account admins will enjoy the easy-to-use dashboard and monthly consolidated reports that give a clear overview of each driver’s miles. On top of that, company’s have the option to set a customized reimbursement rate in lieu of the IRS standard mileage rate for the year.
At MileIQ, we believe there is a plan for every one and every team. That is why we’ve developed MileIQ for Teams to ensure every employer can extend automatic mileage tracking to their employees.
With three package options available — Teams Lite, Teams, and Teams Pro, you’ll find exactly what you need among our list of amazing features and set pricing options that are designed to fit well within company budgets.
One way we guarantee every business can afford MileIQ is through our flexible billing option. Whether you want to pay upfront for the year or subscribe month to month, we give business owners the ability to choose what works best for them.
Our most popular option, Teams Lite, costs just $5 a month (or $50 annually). This option permits business owners to add/remove drivers at any point in time as well as create streamlined billing for tax reimbursements.
Don’t waste time or energy on a complex tax filing this year. Instead, give your employees the gift of MileIQ for Teams. Our efficient and innovative software guarantees accurate and complete reporting along with a series of worthwhile features that will improve your business’s bookkeeping for tax preparation.
The best part — it’s so simple to sign up!
As soon as you integrate MileIQ for Teams into your day-to-day routine, you’ll see just how time-saving your investment really is. Interested to know how much your team can really save? Use our MileIQ calculator to see how automatic mileage tracking can increase your tax savings each year.