Veturilo: Putting your mind at ease, with an easy-to-use mileage expense tracker In case you’re wondering what’s that, we have a few answers for you: ‘Sustainability’, ‘scaling up’, ‘profitability’, ‘business growth’ - a fleet manager’s seventh heaven. It helps save money, and scale your businessĪbove all, having this whole process simplified, allows you to spend more time on what really matters. In other words, every single mileage log is safely stored never to be misplaced/lost (handwritten logbooks), nor accidentally permanently deleted from your computer (excel spreadsheets). Plus, your mileage records will certainly be IRS compliant, and tax efficient - yay! However, note that - at the time of this writing - the IRS requires businesses to keep these records for three years which means, during an audit, there’s a chance that they’ll ask you for older mileage records.īut you don’t have to worry about losing your business’s mileage records either they’ll be right there on the Cloud, for as long as you need them to be. Indeed, with an intuitive fleet mileage tracking system up and running, the tax reimbursement process gets simplified. It ensures your records are IRS compliant, tax efficient, and safely stored Therefore, it’s almost impossible for them to keep timely records of mileage for each trip and vehicle that is to say, when you do it by hand.Ī mileage expense tracker changes everything, as it keeps accurate and tidy records of mileage, automatically so that you don’t have to bend over backwards to get those tax reimbursements. The reason behind this? Well, mainly because fleet managers have a very tight daily schedule, in terms of workload and available time. Many fleet managers, as it often happens, submit inaccurate, or insufficient, mileage records for deduction claims to the IRS. It keeps timely, accurate, and orderly mileage records To help clear things out, we highlight below the three most important benefits of using a mileage expense tracker at least, for managing your business mileage. Three benefits of using a mileage expense tracker When it comes to business efficiency, there’s no solution as effective, as using a mileage expense tracker within your trip log. This way, you can contribute more to the company’s bottom line. With the help of fleet tracking software, you not only save a lot of money for your company, but also help daily operations run more efficiently given the fact that you can prevent the occurrences of excessive idling, fuel fraud, and aggressive driving, too. One that can help eliminate the hassle of tracking mileage for tax claims - among other things. To get to the point, a vehicle monitoring system with a mileage expense tracker feature is such a solution. And the best part is that those tools can do all the hard work for you - down to the last mile. Thanks to technological breakthroughs, you now have all the right tools available to get your business to the next level. Put differently, when you track your fleet’s miles during daily business trips, your tax savings increase with your odometer reading. Utilizing Telematics technology to track mileage expensesĬonsidering that business miles are deductible, imagine how much a fleet business can benefit from tax returns since the miles covered by the fleet are mainly for business purposes. On top of that, it can also help managers reduce unnecessary expenses. With this in mind, a mileage expense tracker offers an easy way out of this time-consuming task. However, keeping records of every trip - accurately, and consistently - is often a challenge for a fleet manager. Fleet companies, nowadays, make the most of business trip log records to get all the tax deductions they’re entitled to.
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