Don’t leave valuable deductible miles unrecorded! The IRS requires taxpayers to keep a mileage log, which can be either on paper or through an app.
The 2018 standard mileage rates are:
54.5 cents per mile for business
18 cents per mile for medical/moving
14 cents per mile for charity
Keeping a log by hand can be tedious and easy to forget. We recommend using an app, like the one offered for business miles by MilageIQ, to let your phone automatically document and keep track for you. For more information, please watch the video below:
If you have any questions about tracking your mileage or maximizing your tax deductions for 2018- please give us a call at 760-423-0133.