Are you one of those who dread deducting business, medical, and charitable miles on your tax return? You’re not alone. Keeping track of all the miles you drive for work or charity can be daunting, but there’s a solution to this problem – and it’s as simple as downloading an app on your smartphone.
With the MileIQ app, tracking your miles simple and efficient. Available for both Android and iOS, MileIQ is a mileage-tracking app that automatically logs your drives and calculates the drive’s value. It also has a very user-friendly interface that makes it easy to navigate and sends you reminders to classify your drives.
MileIQ has many great features that stand out from other mileage-tracking apps. For one, it can generate an IRS-compliant log for your tax records, so you don’t have to worry about manually keeping track of all your mileage. This feature alone can save you hours of time and a lot of stress during tax season.
Another great feature of MileIQ is that it will track up to 40 drives for free per month. If you need to track more than 40 drives, you can upgrade to a premium subscription that allows you to track unlimited drives. The premium subscription also gives you access to additional features like exporting your data to Excel or PDF.
One of the best things about MileIQ is that it’s not just for business miles. You can also use it to track medical and charitable miles, which may be deductible from your taxable income if itemizing, which means that you can easily keep track of all your deductible mileage in one place and never miss out on any deductions again.
If you’re looking for an easy and hassle-free way to track your miles for tax purposes, MileIQ is a valuable app. Its user-friendly interface, automatic logging, and IRS-compliant log generation are the perfect tools for maximizing their deductions and minimizing their stress during tax season.