4 Data Items You Must Track in Your Mileage Logbook to Claim Tax-Deduction
Are you commuting or driving on business daily? Your travel expenses are tax-deductible! You should take advantage of the tax-rules allowing you to deduct travel expenses from your taxable income!
Claiming tax-deduction for travel expenses isn't hard, but requires some preparation and, most importantly - proof. If you claim certain amount of expenses as "travel expenses", you should back it up with a comprehensive logbook. This is simply a log of all your trips, and it must include the following info:
- The date of your trip
- The origin of the trip
- The destination of the trip
- The purpose of your trip
- The mileage or the start/end odometer values.
How should you keep your mileage logbook to date?
You can track your trips manually with pen & paper, or use Excel. This is tedious, however, and we recommend using an automatic mileage tracker. Enter Psngr app!
Passenger app logs every trip automatically. Once installed, your trips will appear on the home screen and all you need to do is swipe left or right to classify them as #business or #private trips. Your trips are aggregated in weekly, monthly or annual reports which you can export in CSV or Excel format directly from the app. There's a lot more you can do, of-course. Check out psngr.co for more info.
Save time and money. Log your travel expenses automatically with Psngr app and claim those travel expenses back!