You can use your mileage on taxes to lower your taxable income but only if you’re maintaining an accurate mileage log. Download MileIQ to start accurately tracking your miles » On this page, you’ll find tips for how to best maximize your miles for tax purposes. This includes knowing what drives you can write off, what the IRS is looking for in your records and other best practices well-suited for small business owners, self-employed workers and freelancers. I Want To Track My Miles »
Q: As a self-employed professional, I do a lot of driving and consequently rack up a lot of business mileage. This year my mileage deduction will be well over $7,000. A friend told me that a maximum ...Read more
If you claim the mileage deduction on your tax return, you need to be able to back it up with an adequate mileage log in the event of an IRS tax audit. Failure to do so could prove costly. Alvaro ...Read more
In this installment of Ask The Tax Expert, we go over when an employee can claim a mileage deduction when on the job. ...Read more
Being a Lyft driver is a nice way to earn some money but be sure you know about your tax liability and deductions. Let's go over a Lyft driver taxes, so you'll be ready come tax time. Keep in mind, ...Read more
