Track or Lose Money

Wilson Mini Cooper

When you’re constantly in your vehicle for work — going to and from client meetings, out-of-the-office consultations and the occasional trip out of town — keeping track of the miles you spend on the road can be challenging. Tracking these work-related rides could mean hundreds or thousands of dollars in savings a year, as the IRS mileage rates are 53.5 cents per mile for business miles driven.

You can find a FREE app to utilize the GPS on your cell phone to track your miles.Using a mileage tracking app makes it easy to keep an accurate record so you can confidently deduct these expenses at tax time. One free app is MileCatcher, or pay a small fee for TripLog or MileIQ

Or, you can buy a small log book (usually just a few bucks) to write down your miles and keep in your glove box available at most stationary stores.