It’s called MileIQ and it’s being hailed as the number one mileage tracker application that you can use on your smartphone. KTLA’s Rich DeMuro has been using the app for himself and in a report he published earlier today (Feb. 25, 2015) he’s heaping piles of praise onto the less than $50 a year app. Like the popular daytime television rotisserie commercial once lauded, “You simply set it and forget it” and the same principle applies to MileIQ and its ease of use.
Claiming the amount of mileage you drive for business related purposes can save you hundreds if not thousands when time comes for you to file your annual tax return. For example, based on the IRS’s standard mileage rate of 57.5 cents per mile (1.5 cents more than last year,) if you drive 7,500 miles using your personal car during business hours doing business related errands, you’ll have saved yourself $4,312 alone. Unless you’re in the habit of writing down the beginning and ending mileage for every time you drive during business hours, MileIQ does that work for you. According to DeMuro,
I’ve been using this app since September and I’m so impressed with the way it tracks the miles you drive. My biggest concern was battery drain since it is using location services pretty much all day long to detect when you’re driving. But I have yet to notice a significant impact on my battery, and usually it’s in the 6% usage range when I check for the day.
And it really is that simple. After installing the app on your phone, you simply keep it running in the background. When it’s time for you to drive, simply swipe left to categorize a drive as personal and swipe right to categorize the drive as business. Additionally, you can further categorize the drive according to how fast you swipe (e.g. business lunch, meeting etc.) Once you start driving, the phones internal GPS system tracks your motion and ticks off the miles. When you come to stop for five minutes or more, the app simply stops recording and assumes that you’ve reached your destination. At random times during the day, the app will sync its data with its servers backing up whatever driving you’ve done. And come tax time, you’ll have a detailed list of all the miles you’ve driven and can back up your claim to the IRS if any issue arises.
Right now, it’s free to download and your first 40 drives are free to track. You have nothing to lose to at least try it out for yourself. As of right now, it’s $6 a month or $60 a year to buy the app for unlimited drives. But according to DeMuro, “I noticed that if you don’t subscribe immediately you are likely to get a few emails urging you to subscribe but if you wait a bit, you’ll eventually get one with promo code that will save you a bit on a yearly subscription. This happened to me and I ended up paying $48 for a year’s subscription. Your mileage might vary (see what I did there) but a quick search for “MILEIQ PROMO CODE” might also unearth some useful discounts.”