Keeping track of business mileage with your vehicle is one of the single best ways to save money on your taxes. In 2016, 10,000 business miles was worth approximately $5000.00 in tax deductions! This is a huge tax saving benefit that most businesses simply miss. Think of how much money you could save if you were keeping track of your business mileage. Not only is this a great tax benefit for you business, but it is also the most heavily scrutinized tax deduction by the IRS. Without the proper record keeping, you can bet ...
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Keeping track of business mileage with your vehicle is one of the single best ways to save money on your taxes. In 2016, 10,000 business miles was worth approximately $5000.00 in tax deductions! This is a huge tax saving benefit that most businesses simply miss. Think of how much money you could save if you were keeping track of your business mileage. Not only is this a great tax benefit for you business, but it is also the most heavily scrutinized tax deduction by the IRS. Without the proper record keeping, you can bet that the IRS will not grant you this incredible tax deduction. Keeping accurate records of how, when and why you use your vehicle for business purposes is the only way to legally claim this tax deduction. That's where the Mileage Log Book comes in. Each mileage log book features 100 pages with 3 mileage entries per page. This gives you 300 total entries and don't worry because all the important information that the IRS requires can be found in this easy to use mileage tracker. Each entry includes: The date, Odometer starting mileage, Odometer finish mileage, Total business miles traveled, Destination, Business purpose and a place to include notes. At the bottom of each page is a field to calculate the total business miles driven for each page. The last page in the book let's you finalize your yearly business miles by providing a predefined area to enter each month's total business miles and a final total yearly total! Using all of these predefined fields is the single best way to ensure you can legally claim this huge tax deduction. There is also an area for entering information for each vehicle being used for business purposes. If you are not currently keeping track of your business mileage, now is the time and this Mileage Tracking Log Book makes it simple.
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