Why is it so important to track your business mileage as a Notary Public Business owner and how and how should you do it?
Tracking your mileage for business purposes can help you SAVE money on taxes by claiming deductions for business related travel.
Here are three tips!
Tip 1 – Record your odometer reading on Jan 1st – then again on December 31st by doing so will help you calculate how many miles you drove your vehicle in that year.
Tip 2 – Separate business miles out from personal miles. You will need diligent records of your business travel.
Tip 3 – Create a Trip or Mileage Log – containing the date and total mileage of business trips in chronological order.
NotaryAssist can save time and effort for notaries who would otherwise have to manually track their business mileage and calculate their deductions. With the ability to customize how milage is tracked; Odometer to odometer, Total Mileage or Auto-calculate, NotaryAssist generates mileage logs and mileage reports for tax time. Additionally, having a reliable system for tracking mileage can help ensure accuracy and compliance with tax regulations.
READ ALL OF THIS YEAR'S TAX TIPS BY CLICKING HERE:
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