MileIQ is an automatic mileage tracker that takes the hassle out of keeping a mileage log. I think you’ll find it helpful for logging your business drives!
The MileIQ app runs in the background on your iOS or Android phone and logs every drive automatically. You swipe each drive to classify it as business or personal, and MileIQ calculates the value of your deductible mileage. You can add details like parking, tolls, purpose and vehicle and have a complete, accurate mileage log practically effortlessly! Your log gets synced to the cloud, so you can get to it any time, even years down the road. You’ll be able to claim the full value of your mileage deduction with total peace of mind.
This year, MileIQ is offering my clients a 20% discount on annual unlimited-drive plans. Subscriptions are regularly priced at $5.99/mo. or $59.99/yr. (Here’s how to redeem promo codes.)
You can try MileIQ by downloading the free app for iOS or Android. To get an annual unlimited-drive plan at a 20% discount, sign in to your MileIQ web dashboard, click “Get Unlimited Drives” and use promo code KSPE128A at checkout. (Note that the discount is not valid for in-app upgrades or monthly plans.)
Want more information? Take a look at this flyer.
I hope you’ll give MileIQ a try and let me know what you think. (And remember, the subscription is usually deductible too — at 54 cents for every business mile in 2016, it'll pay for itself in just a few drives!)
IRS has added new features to the tax account online feature. You can now view 18 months of payment history along with your federal tax account balance. The site is safe, secure and can be accessed through the IRS.gov/payments page.
While viewing your account, you can also pay with IRS Direct Pay, a debit or credit card, or apply for an installment agreement.
Before accessing the tax account online, you must authenticate your identity through the secure access process. This is a two-step authentication process, which means that if you are a returning user, you must use your credentials (username and password) and request a new security code (sent via text) each time you log in. If you already have a user
Below are 2 of the many items on the IRS tax scam list
Falsely Padding Deductions on Returns: Taxpayers should avoid the temptation of falsely inflating deductions or expenses on their returns to under pay what they owe or possibly receive larger refunds. Think twice before overstating deductions such as charitable contributions and business expenses or improperly claiming such credits as the Earned Income Tax Credit or Child Tax Credit.
Falsifying Income to Claim Credits: Don’t invent income to erroneously qualify for tax credits, such as the Earned Income Tax Credit. Taxpayers are sometimes talked into doing this by scam artists. Taxpayers are best served by filing the most-accurate return possible because they are legally responsible for what is on their return. This scam can lead to taxpayers facing big bills to pay back taxes, interest and penalties. In some cases, they may even face criminal prosecution.
We're Here to Help
Get advice from our experienced network of financial managers.
Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.