Already on ArticleSlash?

Forgot your password? Sign Up

Mileage Log The Recent IRS Increase in the Mileage Deduction Makes it Even More Important!

 


Visitors: 1,285

Your mileage log has just gotten that much more important for you if you are keeping track of your mileage for income tax purposes here in the United States.

That's because, as of July 1, 2008, the tax deduction for business mileage has been increased to $0.58 per mile. This increase means you really need to keep the most accurate vehicle mileage log possible for two reasons:

The obvious benefit is that since you get a larger tax deduction for business miles, you need to make sure that you're recording as close to 100% of your business mileage as possible. Forgetting even 100 miles could cause you to pay tax on an unnecessary amount of $58.00

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.

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.

If you have a significant amount of mileage to track, it's a good idea to automate your vehicle mileage log.

Don't lose money with a manually based mileage log ever again. Check It Out Today at http://Mileage-Log-Made-Easy.com to learn more about how the Mileage Logger, a great little digital mileage log, can save you both time and money.

(388)

Article Source:


 
Rate this Article: 
 
3 FAQ On How To Increase Gas Mileage - Tips To Increase Gas Mileage
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

How to Improve Gas Mileage 5 Gas Mileage Secrets to Increase Fuel Economy

by: Sebrina Goh (July 02, 2008) 
(Automotive)

3 Easy Ways To Increase Gas Mileage By 20% - How To Increase Gas Mileage With ..

by: Rick Burton (January 29, 2008) 
(Automotive)

Improve Car Gas Mileage HHO Conversion Increase Hybrid Gas Mileage

by: Robin Mullen (July 21, 2008) 
(Automotive)

Increase Gas Mileage HHO Gas Conversion Kits Increase Gas Mileage by 50%

by: Myla Madson (July 29, 2008) 
(Automotive)

Increase Mileage Tips How to Increase Fuel Mileage

by: Bryan Alan (June 21, 2008) 
(Automotive)

Increase Gas Mileage - How To Convert Your Car To Run On Water And Increase Gas .

by: Myla Madson (March 23, 2008) 
(Automotive)

Increase Gas Mileage For Cars Run Car on Water to Increase Gas Mileage

by: Will Yap (July 17, 2008) 
(Automotive)

Quick Bookkeeping Tip: The Mileage Deduction

by: Kathy Swann (February 22, 2007) 
(Finance)

Getting the Most From the Mileage Tax Deduction & Write Off For 2008

by: FrankW Ellis (September 04, 2008) 
(Finance/Taxes)

3 FAQ On How To Increase Gas Mileage - Tips To Increase Gas Mileage

by: Rick Burton (February 18, 2008) 
(Automotive)