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 in to the IRS as a mileage tax deduction claim. We’ll tell you just what to do in this case, but let’s start at the beginning: Why it’s important to keep a good mileage

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 is about 1% of all tax returns filed. And while those with higher incomes (above $500,000) had a greater chance of being audited, about 300,000 low-income tax return filers who claimed the earned income tax

Last updated on: January 6, 2022 It is not widely known what information the IRS has access to in general and what information they are looking for when conducting an IRS Audit (e.g. Mileage). Yet it is worth knowing that the IRS can track down Business expenses and is able to reconstruct a taxpayer’s Daily Route from Parking fees, Tolls, or Vehicle inspection reports. Switching to apps from manual data recording when preparing your tax return documents might be a smart move to make in 2022. What records can the