Now that we have turned the page to 2018, it’s time to start a new mileage log … with a new business mileage rate from the IRS.
Before you make your first trip, be sure to record your beginning odometer reading for the year. Then, settle on a method for tracking your business mileage and be sure to track those business miles!
The 2018 mileage rates are:
- 54.5 cents per business mile, up 1 cent from 2017
- .18 cents per mile for medical trips, up 1 cent from 2017
- .14 cents per charity mile
My favorite mile-tracking app is MileIQ. Not only does it make it SUPER easy to automatically track your mileage, it also makes it crazy easy to create an accurate contemporaneous mileage report that fulfills the IRS mileage requirements. And it has saved my marriage! Every year, I would ask my husband for his business mileage and every year he would give me a blank stare, then a guilty look, then a promise to “get that to you soon!” Seriously, MileIQ saved the day!
Feel free to use my code to receive a 20% discount on a MileIQ premium annual account: Promo code DHOW248A.