There are tons of jobs that fall under the category of self-employed and require plenty of miles on the road.
Sadly, many who could potentially receive these tax benefits go without them due to the hassle associated with manually tracking mileage. You may have been relying on paper mileage logs for years, or even using a computer program or your cell phone to track it, but in today’s busy times, who needs that hassle? It’s time to make that task simpler and far more accurate. If you’re self-employed, any driving you do for business reasons makes you eligible for tax credits from the IRS. It is time to ditch the notebook and pencil in the glovebox for a much better system. To the rescue is Everlance, an app that will replace your disorganized system – if you even have one – with a streamlined, easy to use, up-to-the-minute procedure. You could be losing out on tons of deductions that you don’t even know about for your business-related expenses. And unless you’re a CPA, there is also a very slim chance that you have up-to-date knowledge about the latest business tax deductions. Missing receipts or other proof of expenses can cost you money! You are more likely to make mistakes when you are working with disheveled receipts. If you are audited and unable to prove your trips were work related, you could end up in hot water. However, you need to keep an accurate mileage log in order to be compliant with the IRS. For example, real estate agents can write off their mileage when driving to and from showings.
Then, you face the daunting task of making sense of it at the end of every month.Ĭertain activities behind the wheel can be written off if you own a business or have some kind of side hustle. That usually means hanging on to those little paper receipts, which never stay organized, or jotting things down in a ratty notebook. Whether you are self-employed or a small business owner, it’s crucial to keep track of every single expense.
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