 Mileage Log - The IRS Increase in the Mileage Deduction Makes It More Critical!Published Date: 2008-08-27 15:28:09 WorkOnInternet.com
Since you're getting a larger tax deduction for business miles, it just makes sense to record 100% of your business mileage if possible. If you forget to record even 100 business miles, you'll be paying tax on an additional $58 of income.00! The other reason may not be quite as obvious but my accountant believes that with an increase like this, the IRS will be examining mileage deductions more carefully now. You'll want to maintain the most accurate records possible in the event that the IRS questions you about your deduction. Most folks cringe when you even mention the term "mileage log" to them. If you have ever had to keep track of your vehicle's mileage, then you know how cumbersome a manual mileage log can be ... First off, you need to find your Daytimer or a scrap of paper and then record the beginning mileage you're starting with plus the purpose of your business trip and the date. Then at the end of your trip you need to remember to record the ending mileage. Next you need to calculate the actual number of miles you drove. Then you need to input your raw data into a spreadsheet and go through all that's involved with that. It can (and does!) get to be a veritable nightmare! Keeping track of a manual mileage log is definitely no fun at all. If you're someone who needs to track mileage, then you know exactly what I mean! Fortunately in 2008 there is a very simple solution to this chore and that is to automate it with a digital mileage logger. These relatively new products will automate the process of maintaining your mileage log and make it a snap to generate the documentation you need for IRS reporting or any other mileage log requirement. And it's so easy to do. No more scrambling around for a piece of paper or your Daytimer to record your mileage. A digital mileage logger simply plugs into your car's cigarette lighter and then at the beginning of your trip it starts recording your mileage, using GPS (Global Positioning System) technology to calculate your vehicle's position and thereby its mileage. At the end of your trip, the tool sends your final mileage to the website associated with it where you'll be able to login and add any details necessary or format and download your reports. And the units are so small that it's easy to move them from vehicle to vehicle in case you use more than one for your business trips. If you have a significant amount of mileage to track, it's a good idea to automate your vehicle mileage log. ------------------------------ Why suffer (and lose money) with a manual mileage log ever again? Visit http://Mileage-Log-Made-Easy.com to check out the Mileage Logger, a great little digital mileage log that will pay for itself in no time!
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