MileIQ: Mileage Tracker & Log

MileIQ Inc.

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Taxes

What Is Mileage Tracking? Why Should You Do It for Taxes?

Marin Perez

November 28, 2018

One way to reduce your tax bill is to track your mileage. Let's go over what mileage tracking is and why you may want to start doing it.

What Is Mileage Tracking?

Most often, mileage tracking refers to keeping a mileage log for reimbursement or for tax deductions. For 2018, your business miles are worth 54.5 cents per mile. Many employers also require a mileage log when paying out a mileage reimbursement.

What Counts As Deductible Mileage?

The IRS lets you deduct mileage for business, charity, moving and medical purposes. The IRS considers the following business drives:

Customer visits
Trips between offices
Drives for errands and supplies
Customer meals and entertainment
Trips to the airport for business travel
Traveling between temporary job locations

It's important to note the IRS doesn't let you deduct your commute. The IRS considers where you live a personal choice, so driving to work is not deductible.

How Much Are Your Miles Worth?

Your business drives are worth 54.5 cents per mile in 2018.

How To Track Your Business Mileage

The IRS requires you to have documentation of your miles. You can use a mileage log template, a handwritten log or a mileage-tracking app like MileIQ. Millions of people rely on MileIQ because it provides automatic mileage tracking. This means you can focus on your business while making sure you're getting the largest deduction for your mileage.

Still tracking miles by hand?

Use MileIQ to automatically keep a full, IRS friendly mileage log.

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MileIQ: Mileage Tracker & Log

MileIQ Inc.

GET — On the App Store

One way to reduce your tax bill is to track your mileage. Let's go over what mileage tracking is and why you may want to start doing it.

What Is Mileage Tracking?

Most often, mileage tracking refers to keeping a mileage log for reimbursement or for tax deductions. For 2018, your business miles are worth 54.5 cents per mile. Many employers also require a mileage log when paying out a mileage reimbursement.

What Counts As Deductible Mileage?

The IRS lets you deduct mileage for business, charity, moving and medical purposes. The IRS considers the following business drives:

Customer visits
Trips between offices
Drives for errands and supplies
Customer meals and entertainment
Trips to the airport for business travel
Traveling between temporary job locations

It's important to note the IRS doesn't let you deduct your commute. The IRS considers where you live a personal choice, so driving to work is not deductible.

How Much Are Your Miles Worth?

Your business drives are worth 54.5 cents per mile in 2018.

How To Track Your Business Mileage

The IRS requires you to have documentation of your miles. You can use a mileage log template, a handwritten log or a mileage-tracking app like MileIQ. Millions of people rely on MileIQ because it provides automatic mileage tracking. This means you can focus on your business while making sure you're getting the largest deduction for your mileage.

Get started for free