GPS and Taxes — Are You Throwing Miles Away?
If you operate a vehicle in your business there are tax consequences. One consequence is that the IRS requires you to track the use of your vehicle(s), promptly, accurately and in some detail.
The ‘bible’ for this record keeping is here:Â http://www.irs.gov/pub/irs-pdf/p463.pdf
Most of us find it hard to keep track of every mile we drive. The sun visors of America are cluttered with little Domeâ„¢ mileage record books, typically a month out of date. if you have a GeoTab GO in each vehicle and GeoTab’s Checkmate software in your office, logging every mile to better than OEM speedometer standards is virtually automatic.   Last year I operated as an independent consultant. I tried to keep careful records, but at year’s end there were more than 5000 miles unaccounted for. If all of those ‘lost’ miles were business miles they would have been worth far more than the cost of a GeoTab GO in my personal car. This year, there will be no lost miles. Perhaps you keep better records than I did lat year, but you certainly don’t do it easier and more accurately than I do now.
GeoTab isn’t just for big truck fleets, if you’re a real estate professional, manufacturer’s rep or other sales or service worker who spends a few hours a day looking out the windshield, you can probably cost justify your own GeoTab GO in less than a year. Contact SatViz Incorporated now for help in working the numbers.