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MileageWise driving log

What you should do if you forgot to track your mileage

Last updated: April 25, 2023 Many drivers forget to track their business miles, while others simply don’t have the faintest idea of what to record. If you don’t have a clue what you are doing, mileage tracking can be a terrible experience. Since mileage is deductible, it’s important to track miles and keep a driving log for the entire year. Forgot to keep a driving log? Don’t panic! Using a mileage tracker app to keep track of ongoing miles is a great idea. However, a driver can recover lost or

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Top 7 Reasons to make a Driving log

March 3, 2021 1. A stitch in time saves Nine Did you know, that in case of an IRS Audit where you are required to substantiate your Mileage records, you only have 30 days to gather all the information, create a Driving log, and present it to the IRS? Many of our clients contacted us panicking because they have received a 30-Day IRS Audit Letter stating that they have to reconstruct 1 or 2 years’ worth of Driving logs within that 30-day period. If you would like to avoid this

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A list of your Data that the IRS has Access To

Last updated on: January 3, 2023 Have you ever wondered what information the IRS is looking for when conducting an IRS Audit (e.g. for Mileage)? The IRS can track down your Business expenses and reconstruct your Daily Route from Parking fees, Tolls, or Vehicle inspection reports. Imagine that you are being Audited for Mileage by the IRS. You quickly reconstruct a semi-accurate yearly Mileage log from memory and then turn in the papers for further inspection. The IRS will check your previously submitted Tax Returns. They will find a previously

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mileagewise helps avoid irs audit triggers

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 offer you the best solution for your situation. Furthermore, it is in your best interest to know about the details of these errands. If you record them wisely, you can find an average of $5,600

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