The tax software company Intuit recently announced that a new automatic mileage tracking feature will be available in QuickBooks. This mileage solution is available for independent contractors and business owners who use QuickBooks Self-Employed (QBSE), and it can both save you time and increase the accuracy of your mileage tracking.
How can the QBSE mileage tracker help me?
The new feature automatically tracks every trip so you don’t need to manually enter your mileage data. That’s less time spent entering information into your tax software, and more time on the job.
With just a swipe on your phone, you can see all the tax deductions you’ve earned thus far. Every 1,000 miles of work-related driving has the potential to produce up to $500 in deductions. Talk about an incentive to track your mileage! QuickBooks Self-Employed has helped users track more than $40 million, equaling a total savings of more than $23 million overall. According to Intuit, individual QBSE users experience an average potential tax savings of $3,809 each year!
With the QuickBooks app, you can have constant, real-time access to your mileage data. The program automatically detects starting and stopping locations, providing you with highly accurate mileage reports that will be beneficial during tax season.
Questions about QuickBooks Automatic Mileage Tracker?
Contact the experts at TSLNH today to set up your QuickBooks strategy session! Our professional accountants and tax preparers are standing by to answer any questions you might have about the software and the ways it can benefit your small business. We look forward to serving you!