The Best Way to Track Business Mileage
Missed mileage deductions? Businesses that track mileage properly can save thousands in tax write-offs every year! If you drive for business—whether for meetings, deliveries, or errands—you could be leaving money on the table by not tracking mileage. The IRS allows deductions of $0.67 per mile (2024 rate), which adds up fast!
How to Track Mileage in QuickBooks:
- Enable Mileage Tracking: In QuickBooks, go to Mileage > Auto-Tracking and turn it on.
- Manually Add Trips: If auto-tracking isn’t an option, enter miles directly.
- Run a Mileage Report: At tax time, generate a mileage summary for deductions.
Maximizing deductions is key to saving money! A Chandler CPA, like AZ Easy CPA, can ensure you’re tracking everything correctly!
P.S. Need help with your business finances? Contact Us! We offer monthly accounting and bookkeeping services, clean-up projects for past years, QuickBooks training, and phone consultations to help you stay on track.
