Do I just write a mileage log down on paper?
Do I just write a mileage log down on paper? IRS Mileage Tracking Requirements For maximum accuracy, odometer readings should be taken at the beginning and end of your trips. Many people choose to use pen-and-paper mileage logs, but these can often be inaccurate and time-consuming. Alternatively, you can use an accurate GPS-based mileage tracker app like TripLog.
Do I need to record mileage?
According to the IRS, you do not have to record your odometer readings at the beginning and end of each of your trips. The only time you have to log your odometer readings is at the beginning and end of the year (and if you start using a new vehicle).
Can you write off mileage and gas?
If you use your car exclusively in your business, you can typically deduct all of the car expenses, said IRS representative Sara Eguren. If you use your car for both business and personal purposes, you'll need to divide your expenses based on your mileage for business and your mileage for personal use.
What is the current mileage rate for 2023?
The 2023 IRS mileage rates are: 65.5 cents per mile for business purposes. 22 cents per mile for medical and moving purposes. 14 cents per mile for charitable purposes.