A mileage tracking app is one of the best investments one can make. Not only can you get rid of that paper mileage log and receipts but also can become more IRS compliant. Since most of us never go anywhere without our phones any more, apps like Everlance can definitely help track your mileage and expenses and really not have to think much about it.
Mileage Tracking apps are useful for business deductions
The number of independent contractors, freelancers, sole proprietors and many more has been booming in the past few years. However, many of these individuals (from realtors, Uber drivers to contractors and caregivers) are missing out on valuable write-offs due not using a mileage tracking app. Everlance enables you to records the mileage for multiple income sources, this way you can keep an organized log of all the different business mileage and expenses you have.
Reimbursements are also a big part of business mileage and expenses. Check to see if your company will reimburse you for the mileage you drive in your car, this can really add up. Since Everlance will track your mileage automatically, all the business deductions and reimbursements will be calculated automatically for you.
Tracks all your trips with a mileage tracking app (even mileage you forget about)
Small trips can be a little to tedious to write down in your paper mileage log. This is where you can see a great deal of value in a mileage tracking app. All those small trips can really add up and Everlance will automatically track those miles for you.
Imagine how much you may have missed in mileage deductions in the last year alone. With the new 2018 standard mileage rate of $.545 per work mile, the savings can really add up. This means that for every 1,000 miles driven for work, you can deduct $.545 per mile.
Mileage Tracking apps make tax time a breeze
With tax season behind us now, we asked many of our users how tax time went for them this year (and more specifically about mileage and expense deductions). The average user stated that they saved about 5 hours of tax preparation time and saved about 5-10 hours every month because they didn’t have to keep a mileage log book anymore. So, save yourself the headache this year and use an automatic mileage log app.
Mileage Log Apps provide IRS Compliant Reports
Mileage logs can be a pain in general. There is always the back and forth with a bookkeeper about what the trip details are:
- Reason for the trip
- Who did you meet with
- Mileage of the trip
- Locations / addresses of the trip
- Do you have receipts for the expenses
After you have provided them with all this info, you still needed to have kept all the receipts and get copies of the mileage log and you still don’t know if everything is up to the IRS standards. With a mileage tracking app all this headache and time spent is gone. You simply swipe your personal and business trips and Everlance will generate a mileage report for you that you can automatically send to your CPA or accountant from the app.
What if I want more than a mileage tracking app and need to track other expenses?
Everlance is here to help with that too. It’s rare that you go out and just drive, right? While this may be accurate for the delivery person, there’s usually more involved than just spinning your wheels across town. There’s gas to buy, client lunches, coffee runs, supplies to buy. It only makes sense that your app helps with this, too.
With Everlance, you also have the ability to log these other expenses you make as you travel. So, not only are you saving on mileage, but you’re also recording your business expenses on the road. If you’re worried about remembering, don’t! If you don’t want to record manually, Everlance actually links with your bank, so it will automatically record your business expenses in the app. These are just a few ways a mileage tracker can help you save year-round!
Learn more at everlance.com