Tag Archive for MILE IQ

Mileage Reimbursement Mistakes Businesses Make

You know that a proper mileage reimbursement program can save your business time, money and boost compliance. Yet, we’ve seen many companies make mistakes with their programs. Here are some of the major mistakes your business should avoid.

Not Having A Clear Process

Nearly half of businesses with mobile employees don’t have a clear process or policy for mileage reimbursement. Some companies require a mileage log, while some really want one but still pay out reimbursements anyways because they don’t want to upset workers. Read More

Written by | Posted in Mileage • MILEIQ

How To Deal With 1099-MISC Problems

One of the great things about being self-employed is that no income tax is withheld from your compensation. But you still have to pay taxes on that income and sometimes, your 1099 tax forms will have mistakes. Here’s how to deal with 1099-Misc problems.

Why is a 1099-MISC is Necessary?

The IRS will often still have some idea of how much money you’ve made. Your clients must complete IRS Form 1099 if they’ve paid you more than $600 over the course of the year. Read More

Written by | Posted in Form 1099 • IRS

What Drives Constitute Business Miles Drives?

If you drive your car or other vehicle for business purposes, you can take a mileage deduction of 53.5 cents for every mile you drive for work in 2017 (54 cents per mile for 2016). Here is everything you need to know in order to get the most out of your mileage write off.

What Drives Are Business Drives?

With the mileage deduction, the IRS only lets you deduct trips that are for business. The natural question is: What types of trips are considered business drives? We’ve put together this simple chart to let you know what drives are considered business by the IRS:

Read More

Written by | Posted in TaxConnections
  Recent Entries »