Mileage Log
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How to make a Mileage Log in Excel? An easy way to create your spreadsheet is by downloading this example Mileage Log Excel spreadsheet template now!
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How to make a Mileage Log in Excel? An easy way to create your spreadsheet is by downloading this example Mileage Log Excel spreadsheet template now!
What is a Mileage Log?
To claim deductions on your tax returns, you have to keep meticulous records of your driving. Many people record the time weekly or monthly, which will not satisfy the IRS if there’s an audit of your records. The easiest way to keep records is to use a mileage log template that will have spaces for you to record your mileage for each trip you take. The IRS has been known to disqualify some deductions because there wasn’t a clear separation between driving for business and other trips.
Along with a beginning record of the vehicle’s mileage at the beginning of the year, you’ll need a record at the end of the year too. This should match with the amounts that are recorded each day to ensure that the mileage is correct.
The following information must be recorded each time you begin your drive to a destination associated with business.
- The date of the business trip.
- Starting point for the trip. It could be the office or a job site.
- The ending destination for your trip.
- The purpose of your trip.
- Starting mileage on the vehicle.
- Ending mileage for that trip.
- Rate.
Each trip must be recorded as well as the beginning and ending mileage at the end of the day to ensure they are precise. The IRS also requires that you keep these records on file for three years after you use them for deductions.
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Download this Mileage Log Excel spreadsheet now!
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