Do you track your mileage?

At 67 cents a mile in 2024, this deduction adds up!

Make sure to note your starting and ending destination, how long the trip was, and its purpose* (business meeting, errand, etc.). And the IRS also wants to know the make/model of your car and its starting and ending mileage for the year (because they’re nosy).

And while miles driven to your business location do not count, the IRS wants to know these commuter miles too. ‍♀

Always save proof of your trips. This could be a text or email stating the meeting time and location or receipts. Entries in your calendar may not cut it.

Psst! You can easily track your mileage through an app or on QuickBooks. I use the latter and it keeps tabs of the necessary info while still being quick to use.

Always check with your Certified Public Accountant (CPA) if you’re not sure which trips count. And if you think deducting your actual vehicle expenses would be more beneficial, ask about that too.

Ready to take advantage of tax incentivized and other benefits you can get through your business?
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ABOUT ME: Hey there! I'm Meg, your zillennial business and marketing mentor. Let's get you from side hustler to selfemployed. Checkout my free howto tutorials and online business and marketing courses. Learn more at https://www.missmegabug.com