It is important for gig workers, especially rideshare drivers, to track their mileage for tax purposes. Gone are the days when you needed to keep a little book in your car to log all those miles you drove.
According to MileIQ, the IRS says your mileage log must include:
- Your mileage.
- Dates of your business trips.
- Places you drove for business, and.
- The business purpose for your trips.
Smartphones and GPS technology has made tracking miles a breeze for all of this information. One of my personal favorites is MileIQ. Their mileage tracking app is an easy answer for how to keep track of mileage for taxes. It creates an automatic and contemporaneous mileage log for all of your driving.
It saves those records securely in the cloud, so you never have to worry about losing it. Additionally, those records can be pulled up or printed out years later if you ever have to face an IRS audit.
GetApp has a list of 10 different apps to track your mileage each one does the job but the interface and the data tracking varies. Review them all to see which one works best for you.
Remember mileage for personal reasons should not be tracked as part of what you report to the IRS.
Tomorrow we will be talking about options for washing your car.