For more information on recording mileage for business purposes check out our blog post: Tax Deductible Expenses for Landlords.
Recording Mileage manually in the App
Step 1. Select the property or organization related to the expense.
For example, you are driving to your rental property to do a property inspection. Select that property using the left-hand menu bar.
Step 2. Tap on the Other tab at the top of the property page.
Step 3. Tap on the "Add Mileage" card below the "Add Notes" option.
Step 4: The Mileage Tracker uses Google location services to perform geo-location tracking to make recording mileage a breeze. You can add mileage by:
A. Entering the distance travelled manually.
B. Look up addresses and/or places visited and allow the Mileage Tracker to auto-calculate the distance.
C. Enable location services and allow the app to follow you as you go.
To record mileage with address look-up, select "Add Manually" in the pop-up shown below:
Step 5: You can then either manually enter the miles travelled, or use the start and next location search bars to find the places visited. You can add up to 10 stops in a single mileage record.
The location visited will be recorded under the notes section of the app.
If location services were used, select "Calculate Distance" to work out the total distance travelled.
Step 6. Enter the date of the travel.
Step 7. Record additional details.
Note: If you are audited the IRS may look for additional details such as the purpose of the journey and any additional expenses you’ve included in the travel expense so we recommend including these details here.
Step 8: Save.
Recording Mileage using Auto Tracker in the App
To record mileage with Auto Tracker, repeat steps 1 to 4 in the previous section and select "Track Route".
Step 1. The Auto Tracker will start tracking immediately.
Step 2. Select "Pause" to temporarily stop the app from using location services for tracking. You can then resume the Auto Tracker by selecting "Resume".
Note: The auto tracker will continue to run in the background unless you either pause or finish the trip in the app, or terminate the app itself.
Step 3. Once you've completed the trip, select "Finished" to stop tracking. The app will automatically populate the mileage and details of the trip on the next screen.
Step 4. Confirm the details displayed on the screen and add in any additional notes such as the purpose for travel.
Step 5. Select "Save".
Recording Mileage on our Desktop Software
Step 1. Navigate to the Relevant property via the left-hand menu bar.
Step 2. Scroll down to the bottom of the property dashboard
Step 3. Click on "Add New Mileage".
Step 4. Enter the date of the travel, the total miles travelled, and the start and end addresses for your journey.
Run a mileage report
You can run our mileage report in the app to instantly generate a report showing all your mileage expenses broken down to make it easier than ever to maximize potential travel deductibles.
To run a mileage report tap on the reports option on the bottom menu bar. Then select "Mileage report" from the Reports dropdown.
Calculating your mileage expenses for the year
There are two methods for deducting mileage expenses in the US. You can either work out using the exact method. This requires you to calculate the exact amount spent on travel for business purposes over the course of the year.
This includes all associated travel expenses such as parking fees, tolls, interest on a vehicle loan, vehicle registration fees, maintenance, and repair costs, and of course the total amount spent on gas.
You will need to keep careful records of each and every expense if you choose the above method as well as the total amount of time the vehicle is used for business purposes vs for personal use.
Alternatively, you can use the standard mileage rate deduction method. For the second half of 2022, this method allows you to deduct 62.5 cents per mile driven for business miles driven. For this, you will want to keep a mileage diary that records the exact amount of distance travelled, when, and for what purpose.
Taxpayers can also deduct parking fees and tolls in addition to the standard mileage rate, but no other actual expenses if they use this rate. This changes every year so please check official sources for up-to-date rates.
Whichever method you choose, it’s imperative you keep a detailed mileage log. If you choose the former method you can record these expenses in the app under the organization expense section. It’s important to note that not all of your vehicle expenses may be deductible.
Tags: Driving mileage, mileage tracker, tracking mileage, record mileage, mileage recorder, work vehicle, vehicle expenses.