MileageWise BlogIRS

IRS Mileage Guide: The Manual to IRS-Proof Mileage Logging

IntroductionIf your drive a car for business, you could be eligible to claim the expenses on your federal income tax return. Therefore, if you're a mobile financial planner who travels to clients all over the city, you may write off the miles you rack up while operating a vehicle for work.In this article, we’ve collected…

What to do if the IRS did not accept your mileage log

Last updated: January 29, 2024 Surprisingly, not everyone is aware of the fact that they may be eligible for a mileage tax deduction for all the business miles driven. Furthermore, even fewer people know how to keep a simple mileage log and what to do if the IRS does not accept the mileage log they hand…

Can I Switch From Actual Expenses to Standard Mileage?

Last updated: June 14, 2024Using a car for business generates a significant amount of expenses for those who drive their vehicle to create revenue, leaving many wondering how to deduct mileage on taxes.The Internal Revenue Service (IRS) offers 2 ways to calculate how much you can deduct from those expenditures each tax year - these…

IRS Doubles Workforce?

October 14, 2021 The IRS will bring in much more revenue if Congress agrees to the Biden administration’s request to increase the agency’s budget over the next decade. Will it increase the number of IRS audits? How is it going to affect your financial status? Officers Reinforced In a report issued recently, the Congressional Budget…

What should you do when the IRS comes knocking on your door?

May 31, 2021 A recent article in Forbes summarized a lot of our thoughts on IRS Audits. We would like to take the chance and publish it without amendments. According to the Internal Revenue Service (IRS), about 850,000 tax returns were audited for 2015, which was the most recent year for which it’s published data. That…