Mileage Tracking – How to Save Thousands Annually.
Mileage tracking is very important to freelancers, self-employed individuals as well as to many businesses. The IRS allows self-employed individuals to claim deductions for the mileage driven for the year during the course of business.
These deductions can be significant – the newly released 2019 IRS standard mileage rates, for the use of a car (including vans, pickup trucks or panel trucks) are:
- 58 cents per mile driven for business use, up 3.5 cents from the rate for 2018,
- 20 cents per mile driven for medical or moving purposes, up 2 cents from the rate for 2018, and
- 14 cents per mile driven in service of charitable organizations.
This is an increase from last year and this allows business owners and self-employed individuals, who drive for work, an opportunity to save money on their taxes by deducting the mileage driven for business.
Mileage tracking can be tricky, however, Timeero makes it easy and simple for our clients to accurately track their mileage driven for the year, down to the last meter.
Mileage Tracking with Timeero:
To accurately track your mileage with Timeero, simply create a new job by logging into your Timeero account. You can call this job “Driving” or if you have specific routes you drive, you can also name the job to reflect the route.
Once the jobs are created, every time you start driving for business purposes, simply clock in to the job and Timeero will automatically track the mileage driven. When you’re done driving, clock out, and you can view your mileage summary in your Timeero account under “Reports” by running a report by job or by the date range for specific dates.
Timeero makes it easy for freelancers, self-employed individuals and businesses to accurately track their mileage, and helps our clients to accurately deduct the right amount of mileage driven, to save more money on their taxes. Download our mobile app and log into your web dashboard to begin saving money and time today!