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How to track you business miles and make them work for
you Documenting your
business miles as part of your travel expense reporting requires that you
understand the mileage rate for which you can claim business mileage and the
current business mileage rate that the IRS allows each year for business travel.
It is equally important to correctly document your total miles driven and the
number of actual miles that were driven for business. This calculates the
business use portion of the expense reporting requirement for the IRS mileage
standard. Keeping a business mileage log is the best way to avoid the pitfalls
of failing to provide adequate documentation to the IRS Auditor during an audit
and lack of proper documentation could possibly lead to a disqualification of
tax deductions.
This is why mileage log software and
expense report software like Mileage Track can be of immense benefit to you in
maintaining accurate records of both your business mileage and business expenses
that will make the difference between a clean audit and having to battle with
the IRS to keep your valuable tax deduction.
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