(#230) Need to Maintain a Mileage Log? There’s an App for That!
Mile IQ: Automatic Mileage Tracking
As posted to the Mile IQ You Tube Channel on 12/19/14
Opportunity
You use your car for business and are entitled to a $0.54/mile (for 2016) tax deduction for each and every mile you drive.
Problem
To accurately calculate, record and support your deduction, the IRS requires that you keep contemporaneous records regarding your business mileage. Translation: a mileage log.
Solution
Introducing Mile IQ, an automatic mileage tracking app is ideal for anybody who wants to get the reimbursement or tax deduction they deserve. Learn more by watching the promotional piece above, and/or visiting www.mileiq.com.
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About the Author: Roger Rossmeisl, CPA
Roger Rossmeisl, CPA, brings over 40 years of experience helping small business owners who have outgrown their current CPA firm and larger companies seeking responsive, cost-effective solutions they’re not receiving from their current CPA Firm. He goes beyond tax compliance, explaining the “why” behind the numbers and their impact on cash flow and other decision making.
An avid follower of federal monetary policy, Roger adds insight into how government actions affect business and wealth. With a niche in franchised new vehicle dealerships, he has served over 100 franchise stores and groups through decades of evolving IRS rules and legislation.
