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Get More Back Next Tax Season: Automatically Track Your Mileage and Expenses

Being your own boss has a lot of benefits: freedom, control, flexibility—the list goes on. On the flip side, one of the more challenging aspects is figuring out your finances and taxes on your own. Fortunately, there are tools that make this significantly easier: Everlance, the #1-rated mileage-and-expense tracking app, is one such tool.

Want to keep more of your hard-earned income? Let Everlance automatically track your business mileage and expenses for you. It can help you capture more deductible expenses, pay less in taxes, and have a clearer view of your business finances.

As part of our commitment to helping Taskers thrive, we’ve partnered with Everlance to offer you 2 months FREE of Everlance Premium. A free, basic version of Everlance is also available to Taskers here.

Why is it important to track your mileage as a Tasker?

Tracking your mileage while tasking can lower your taxes. For every 100 business miles, you can deduct almost $55 on your taxes. So, if you drive 1,000 miles for work, you can deduct almost $550 on your taxes. 10,000 miles? $5,500. You get the point—deducting business mileage can have a huge impact on how much you pay in taxes! 

Note: If you’re based in the UK or Canada, you can set Everlance to track kilometers instead of miles — so you can maximize your deductions wherever you live!

How do you track mileage without Everlance? Most commonly: a paper mileage log or Excel sheet. This means manually creating an entry each time you drive, and tracking each gas receipt, and every vehicle-related receipt (oil changes, repairs, new parts, etc). Not too fun.

How do you track mileage with Everlance? Automatically, that’s how! Using your phone’s GPS, Everlance automatically logs all of your trips on its own. All you have to is swipe to categorize: right for work, left for personal. It’s literally that easy!

Note: Everlance’s mileage and expense reports meet the requirements of the IRS (US), the CRA (Canada), the HMRC (UK), and many more—so no matter where you live, you’re covered!

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Why is it important to track my business expenses as a Tasker?

Just like with mileage, tracking your business expenses can lower your taxes. Each business expense can be “deducted” on your taxes, which means you owe less to your government at the end of the year.

Common business expenses for Taskers include:

  • Supplies
  • Tools
  • Phone bill
  • Tolls
  • Parking
  • Professional / association dues (example: being part of a trade organization)
  • Insurance (examples: liability, accident, health, unpaid debts)

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Keep in mind the following:

  • If you get reimbursed for an expense (for example, by a Client), you can’t deduct it.
  • If the item is shared between work and personal (for example, your phone bill), you can only deduct the “work portion” of the expense.
  • If the item has a lifespan of more than a year, like a hammer, you’ll need to use “depreciation” (only deduct a portion of the cost each year). Your tax software or tax preparer can help you with this.

How does Everlance help you track your business expenses? Everlance gives you two options. The easier option is to give Everlance “read-only” access to your credit/debit card. Everlance will show you a feed of your transactions, suggest which one it thinks are business expenses, and you can swipe to categorize the rest. The other option is for you to take a picture of your receipt and save it to Everlance.

Click here to get 2 months FREE of Everlance Premium, or try the free, basic version of Everlance to start with. 

4 comments on “Get More Back Next Tax Season: Automatically Track Your Mileage and Expenses

  1. Jake Cohen

    Very cool!

  2. This should be a huge help – thank you! What I still don’t understand though is if we are supposed to keep receipts for our gas or can we just use this?

    • Kyra TaskRabbit

      You will take photos of the receipts using this so no need to keep them beyond that!

    • Jake Cohen

      Hi Darleen, Jake from Everlance here. That’s a great question! Technically you have a choice. You can either keep track of all your actual expenses by taking pictures of receipts, or you can simply track your mileage and multiply it by the standard mileage rate (54.5 cents / mile) at the end of the year. That standard mileage rate takes into the account the cost for gas, oil changes, etc.

      If you drive a decently gas efficient vehicle, using the standard mileage will normally save you way more money — and is WAY easier too!

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