Deduct your driving expenses with BizMileTracker
BizMileTracker collects your car trip data so you can later deduct the expenses from your taxes. It beats keeping an odometer log in the car.
I heard the pitch for BizMileTracker at the New Tech Meetup last night. This service collects your car trip data so you can later deduct the expenses from your taxes. It sure beats keeping an odometer log in the car. Just identify your starting and ending points, and the application calculates your mileage.
You can set up repeating trips, which is handy. You can also see how much of a deduction you can claim for each trip, depending on which purpose you assign (business expenses are more deductible than medical trips, for example). The service is especially useful if you want to quickly re-create mileage logs.
The site is not integrated into other expense reporting, accounting, or tax planning products, though, so taking advantage of its data will require some extra steps on your part. And if you plan to get reimbursed for using your personal driving miles, as opposed to claiming them on your taxes, the system can't help you yet.
The site is new but pretty darn unattractive. And it really feels more like a nice feature than a complete financial product. But if one of your New Year's resolutions is to do a better job on your taxes, BizMileTracker can help. The service costs $29 a year. Unfortunately, there's no free or trial version.