What are the best apps for tracking mileage and how it can stop you from losing thousands! As small business owners and entrepreneurs the more legitimate deductions, we claim the less we pay in taxes. Moreover, many people are unaware that not only do we need mileage tracking apps, devices or services; equally important we need to know what constitutes legit business travel expenses, according to the I.R.S. Because what we think and what Uncle Sam requires may be completely different!
Tracking Miles for Small Businesses and Entrepreneurs
I’m a small business owner and entrepreneur for over 40 years. Without getting too personal I’m going to share a little of my personal business experience relating to taxes. Like most business owners we’re always looking for ways to reduce taxes, legal loopholes. Ironically, one of the largest business expense categories are business travel expenses. Especially if you travel consistently an accurately recording business travel system is vital~
Unfortunately, business travel is the most scrutinized business expense by the IRS.
Keep in mind as service providers you can claim anything we want, BUT if It’s not properly documented before the fact…. your potential outcome can get ugly. Like speeding you’re good if you don’t get caught. Depending on your speed it could be the difference between ticket, revoked license or even jail.
Business or Personal…April 15th is too late
When speaking about tax deductions of any kind, most people will say “I leave that up to my accountant”. But if your accountant hadn’t set down with you to discuss how to correctly document your travel mileages, then, April will be too late!
Never-the-less, in this article, we’ll cover which mileage trackers are the best? And where to find accurate up-to-date info on how to better IRS audit-proof your business travel miles.
To be honest many of the tracking mileage apps does the same thing (with small variances) the emphasis shouldn’t be on waiting to find the best app really, it should be on NOT driving another business mile without tracking them. Seriously.!!
And since, most entrepreneurs and small business owners are super busy anything will beat a blank. Including how I tack my mileage, to be honest, I track my mileage via my desktop, mainly because I’m at my computer 8 or more hours a day…
However, for those that drive as much as Tae, our son 8-10-12 hrs. days… automation is key. So again…. try not to get stuck on which one to use, choose one try it out (they are relatively inexpensive) and if you don’t like it, try another.
So, hold tight as we go through a few of the features and benefits of some of the top mileage trackers, this way you can make an informed decision.
Ok… so let’s get started.
My Top 3 Apps for Tracking Business Miles
Everlance is one of the top mileage tracking app. Used by thousands of small and large businesses. It uses GPS to track and store your trip in the background. It allows you to link to your bank and credit card account, and you can easily generate an excel report when needed.
✓ GPS mileages tracker
✓Automatically track all your drives.
✓Set it and forget it.
✓Automatic expense tracking
✓ Sync bank/credit card transactions
✓ Advanced PDF & Excel reports
✓ Premium Support!
2. Triplog Mileage Tracker
Triplog is one of the leading mileage trackers that offer multiple auto start options.
This is a super time-saving option. Additionally, with their Daily Map view, you can view your entire daily route. Tracking mileage isn’t their only claim to fame Triplog offers an array of business features: Details Here
✓ Tracks business Income and expenses
✓Allows you to categorize your transaction
✓Unlimited Trip Detection
✓ Plan using the proprietary Daily Map view
***This is one service that I’m been using for some time now. It the only tax service that I’m certain educates you on how to properly document your business expenses. IRS has a few gotchas when it comes to claiming your mileage. And ignorance isn’t bliss, it’s brutal. And you can easily end-up roadkill if your business mileage deductions documentation is incomplete and incorrect. Read more here.
✓ Complete your accounting in as little as 12 minutes a month.
✓Tracks business Income and expenses
✓Allows you to categorize your transaction
✓ Tracks all your driving using your smartphone’s GPS.
✓ Easily merge trips
✓ Ensure that your records are tax compliant…
✓ Easily identify and classify your business trips later.
What I’ve tried to do within this article is to inform others how critically important mileage trackers are and how not having one can cost you “Big Bucks’’. Respectfully speaking, we can’t outperform technology. And since business mileage is one of the largest expense categories (especially, if you travel) it only makes sense… no dollars and cents to immediately incorporate a business mileage tracker to your business arsenal the sooner the better!