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Do you want to track your mileage and see where you’re improving? If so, then you need to check out MileageWise! This app has a lot of features to help you track your progress, such as a map that shows you your current location and all of your previous mileage records.
MileageWise is a great app to keep track of mileage, and if you’re looking to improve your mileage and track your progress.
How to keep track of Mileage for Taxes
Here’s a rundown of how to figure out how much you’re driving, and what you need to do to make sure you’re getting the right tax deduction.
How to figure out how much you’re driving
- The first thing you need to do is track your regular driving. This could be counting the miles you drive in a day, week, or month, or tracking the number of times you drive to work or to the grocery store.
- Once you have a good idea of how much you’re driving on a regular basis, you can start to figure out how you’re spending your driving time. Are you driving for pleasure, commuting to work, running errands, or going to school?
- Once you know how you’re spending your driving time, you can start to figure out how much you’re driving. This is where odometer and trip computer software come in handy.
How to figure out your Driving Deduction
Now that you know how much you’re driving, you need to figure out how to deduct that amount from your taxes.
The easiest way to do this is to use the standard mileage rates applicable for different types of driving.
The table lists the standard mileage rate for business expenses at 62.5 cents per mile and 14 cents per mile for charitable purposes.
So, if you’re driving 10,000 business miles in a year, the standard mileage rate would be $6,250 ($0.625 X 10,000).
How to compare Mileage Tracking Applications
Here are a few tips to help you compare and choose the most accurate mileage tracking application for your needs:
1. Look for an application with a high accuracy rating.
One of the most important factors to consider when comparing mileage tracking applications is their accuracy. Make sure the one you’re looking into has a high accuracy rating, so you can be sure that your mileage data is accurate.
2. Look for an application with a wide range of features.
Go in for a mileage tracking application that has a wide range of features, so you can track a variety of different types of mileage data.
3. Compare the application’s features and pricing.
Finally, compare the features and pricing of the different applications to find the one that’s the best fit for your needs.
The best Mileage Tracker Apps in 2022
If you’re looking for a mileage tracker app that will help you save money on your gas and car expenses, you’ll want to check out some of the best options on the market in 2022, including MileageWise, TripLog, and MileIQ.
User Ratings: MileageWise has rated better than both TripLog and MileIQ on Trustpilot. It has similar or better ratings among iOS and Android users.
Business Mileage Deduction: Mileagewise can get you a possible $12,000 in tax deductions per vehicle per year. In comparison, TripLog offers users a maximum tax deduction of $6,300 while MileIQ offers users a maximum tax deduction of $6,500.
- Get detailed information about your trips with the company’s 3+1 automatic trip tracking modes: Plug’N’Go phone charge tracking, vehicle movement monitoring, and Car Bluetooth tracking.
- Confidential mileage log that is 100% IRS compliant.
- Offers a mileage log delivery service to keep your logs safe and easy to access.
You can find MileageWise on the App Store and Google Play Store.