anniversary stamp

Tracking Your Mileage

If you use your personal vehicle for work or business, it is important to track your mileage because you may be able to deduct some of your vehicle expenses against your income. 

However, it can be difficult to remember to log all your trips, which can lead to lost deductions.

Luckily, there’s an app for that, several actually but the best of the lot from my testing is MileIQ

Advantages

  • MileIQ can be download on iOS and Android, so it does not matter what device you use. 
  • The app allows you to enter information about your vehicle and then set different rates for each type of trip 
  • Turn on Drive Detection
  • You can save work locations you drive to often so the app automatically calculates the rates for those drivers
  • Automate further by setting your work hours, this causes the app to track personal hours which can be used for calculating moving expenses
  • You can easily send your mileage to your accountant by using the send report link in the app

Disadvantages

  • If you choose to not “always allow” the app to track your location, the background feature does not work. 
  • If the app did not automatically track your trip, then you need to wait until you have a computer to classify your trip

Price

If you do not do a lot of driving, this is a great app as you get all the features just described for free but it is capped at 40 trips per month. 

Each drive counts as 1 trip.

The plans are $5.99/month or $59.99 on a one-year plan. 

Visit mileiq.com or contact SSL Group in Barrie or Newmarket today.