Deduct Your Business Mileage
Traveling can be expensive, but it can also be tax deductible. Did you know you can automatically keep track of your business mileage using the Quickbooks App? Never miss another deductible business trip. You can also get a detailed breakdown of your trip as well as a report showing the percentage of business miles vs. personal. If you have specific questions concerning what counts as business mileage please feel free to reach out to us or your CPA.
The set up is in two parts.
On the Phone:
The drivers will need to download the Quickbooks Mobile App and sign in. Instructions to download the mobile app are here.
The next step is for drivers to turn on mileage tracking and add their vehicle.
Also make sure that location is turned on and the Quickbooks application has permission to run in the background.
In Quickbooks:
Add users
In settings (gear in top right), under Your Company, select Manage Users.
Add or select users for those who will need to record mileage
Enter their information including the correct email address
They should be given Company Admin as their user type
When you click Save, the user should receive an email invitation.
Make sure they are a Company Admin
Set up Vehicles
Click on Trips from the main menu on the left
You are viewing the main dashboard showing recorded trips and trips can also be manually entered on this page.
Click View Vehicles to view or add your vehicles
Enter the vehicle details including beginning mileage rate and save
This post is meant for informational and educational purposes. It is not tax, legal, or financial advice. As always, Business by the Book recommends that you consult with your CPA regarding any tax questions.
