How To Keep A Vehicle Mileage Log In 2023

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The Importance of Keeping a Vehicle Mileage Log

Keeping a vehicle mileage log is an important task for anyone who uses their vehicle for business purposes. It’s a great way to track your expenses and ensure that you’re not overpaying on your taxes. A vehicle mileage log can also help you keep track of your vehicle’s maintenance schedule, which can save you money in the long run.

Sample Vehicle Mileage Log

Here are three sample vehicle mileage logs that you can use to keep track of your expenses: 1. Excel Spreadsheet – Create a simple Excel spreadsheet with columns for date, starting mileage, ending mileage, total miles, purpose of the trip, and any expenses incurred during the trip. 2. Mobile App – There are several mobile apps that you can download to track your vehicle mileage. Some popular options include MileIQ, Everlance, and TripLog. 3. Pen and Paper – If you prefer to keep things simple, you can always use a pen and paper to keep track of your vehicle mileage. Just make sure to keep your logbook in a safe place so you don’t lose it.

FAQs About Vehicle Mileage Logs

1. What is a vehicle mileage log? A vehicle mileage log is a record of the miles that you drive for business purposes. It’s used to track your expenses and ensure that you’re not overpaying on your taxes. 2. Why should I keep a vehicle mileage log? Keeping a vehicle mileage log is important because it can help you save money on your taxes and keep track of your vehicle’s maintenance schedule. 3. How often should I update my vehicle mileage log? You should update your vehicle mileage log every time you use your vehicle for business purposes. This includes driving to meetings, visiting clients, and any other trips that are related to your business. 4. What should I include in my vehicle mileage log? Your vehicle mileage log should include the date of the trip, starting and ending mileage, total miles driven, the purpose of the trip, and any expenses incurred during the trip. 5. Can I use my vehicle mileage log to claim a tax deduction? Yes, you can use your vehicle mileage log to claim a tax deduction for the miles that you drive for business purposes. Just make sure to keep accurate records and follow the IRS guidelines for claiming mileage deductions.