MileageWise Blogdeduction

Claim your Past Tax Returns for Mileage in 2024

Last updated on: May 3, 2024 Did you know that you have 3 years to file a tax return and claim your refund? For example, the official deadline to claim a 2020 tax refund was April 15, 2024. A tax refund always comes in handy but especially now, during these hard times! One of the…

About your odometer and your $1,000s of tax deduction

October 11, 2020 An odometer or odograph is an instrument used for measuring the distance traveled by a vehicle, such as a motorcycle or a car. The device may be electronic, mechanical, or a combination of the two (electromechanical). Most odometers work by counting wheel rotations. It assumes that the distance traveled is the number…

Case Study #4: Company mistakes in 2023

Last updated on: January 2, 2023The goal of our new Case Study series is to educate our users about some common tax-related topics. We wanted to start with the not-so-fortunate cases. So that we can move on to the good practices later to show how much easier it is to claim a tax deduction by…

Landlords, don’t miss out on these tax deductions

Last updated: April 26, 2023 Buying real estate is rarely a bad decision. If you purchase a house that requires minor repairs, you'll have an excellent return on your investment. You can renovate it and resell it or rent it out, creating continuous cash flow. But how about its tax purposes? Few know and take…

What to do when you realize you should’ve kept a mileage log?

September 5, 2019 Before the tax year ends, there's a chance you have to face a few unpleasant surprises. If you have a small business, or you're an independent contractor or a freelancer most of the tax-related administration is something you have to do for yourself. Even if you have an accountant, they might not…