The business mileage deduction is one that is heavily scrutinized by the IRS. Estimates are not acceptable, so it is important to keep solid records of this for tax purposes. Here are some tips for doing that:
- Verification of business mileage begins with total mileage, so the driver will need to track the total miles driven for the year. A simple way to do that is to take a picture of the odometer in the vehicle that is used for business purposes on January 1st of each year.
- The MileIQ phone app keeps records of mileage driven for both business and personal usage and can send the user detailed reports as needed.