If your employer reimburses you:
We find that an average sales rep spends 80 hours a year on tracking their mileage.
If you’re on commission, that’s time for another sale.
You often record off-company time, which means it could be more time to spend on yourself.
If you claim your mileage on your taxes:
The IRS is offering $0.54/mi in 2016. Revenue Canada is offering $0.54 for the 1st 5,000 km and $0.48/km thereafter. Most sales reps will travel 10,000 miles/16,000 km or more in a year.
This is approximately $5400 USD or $7980 Cdn in deductions every year.
You can only claim these deductions with a beginning and ending location, mileage and a purpose for all trips.
It’s time consuming to write down every trip or turn on an app every time you enter the car.
Mix of Both
Did you know that if you drive more miles than your employer reimburses, in some cases, you can claim them on your taxes?
Get reports that will satisfy both your employer and the IRS/Revenue Canada without the headache of constantly recording individual trips by hand.
Are you ready yet?