The Top Mileage Trackers for Independent Contractors: A Comprehensive Review
As an independent contractor, you understand the importance of tracking your mileage for tax purposes. Whether you're a rideshare driver, delivery driver, or any professional who uses a personal vehicle for business, mileage tracking is a crucial aspect of your financial management. In this blog post, we'll review some of the most popular mileage trackers available to help you make an informed decision and streamline your accounting and tax preparation process.
MileIQ
Priced between $0.00 and $5.99 per month depending on the number of trips per month*
MileIQ, owned by Microsoft, is a user-friendly mileage tracking app that's widely used by independent contractors. It offers features like automatic mileage tracking, detailed trip logs, and IRS-compliant reporting. The app's intuitive design allows you to categorize trips as personal or business with a simple swipe, making it an excellent choice for those who want a hassle-free solution.
TripLog
Priced at $0.00 for manual entries and $5.99 per month for automatic trip logging*
TripLog is a popular choice among independent contractors for its comprehensive mileage tracking and reporting features. It offers both manual and automatic mileage tracking options, which can be useful for contractors who need flexibility. Additionally, TripLog provides detailed reports that can help you maximize your mileage deductions come tax season.
Everlance
Priced at $0.00 for manual entries and $10.00 per month for automatic trip logging*
Everlance is another excellent mileage tracker that offers automatic trip tracking and categorization. What sets it apart is its ability to track other expenses besides mileage, making it a valuable tool for those who want to manage all their business expenses in one place. Everlance is user-friendly and offers robust reporting features, ensuring you have all the documentation you need for tax purposes.
Stride
Stride is a mileage tracking app designed specifically for independent contractors. It offers an easy-to-use platform for tracking mileage and expenses while providing tax deduction estimates based on your activity. Stride is an ideal choice if you prefer simplicity and a strong focus on the needs of self-employed individuals.
QuickBooks Self-Employed
mileage tracking is included in quickbooks self -employed which is priced at $20.00 per month or higher tier quickbooks online products priced at $30.00, $90.00 and $200.00 per month*
QuickBooks Self-Employed is known for its robust financial tools, and its mileage tracking feature is no exception. This app can automatically track your mileage, categorize trips, and even calculate the potential tax deductions associated with your business-related travel. The integration with QuickBooks for tax preparation is a significant advantage for those looking for a complete accounting solution.
Choosing the Right Mileage Tracker
When selecting a mileage tracker as an independent contractor, consider the following factors:
Automation: Automatic mileage tracking can save you time and effort. Look for apps that offer this feature.
User-Friendly Interface: The app should be easy to navigate and understand, even if you're not tech-savvy.
Reporting: Ensure the app generates IRS-compliant reports to simplify tax preparation.
Integration: If you use accounting software like QuickBooks, choose a tracker that integrates seamlessly.
Additional Features: Some apps offer expense tracking and other financial tools. Consider whether you need these features.
Pricing: Compare the pricing plans to find the best value for your needs.
Tracking your mileage accurately is not only essential for claiming tax deductions but also for managing your business finances effectively. The right mileage tracker can save you time and money while ensuring you're fully prepared for tax season. Explore the options mentioned in this review, consider your specific needs, and choose the one that best suits your independent contracting business. With the right mileage tracker, you can simplify your accounting and tax preparation processes, allowing you to focus on growing your business.
*prices listed are accurate as of October 2023
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