Freelance Mileage Tracking Worksheet
According to IRS Publication 463, there are two ways to track your business mileage expenses:
1. You can deduct a percent of your total vehicle expenses, based on the ratio of your business to personal mileage during a given year. For example, if your total car expenses in 2019 were $5,000, and you drove 10,000 miles (4,000 business and 6,000 personal), you could deduct 40% of $5,000, or $2000.
2. You can track your total business mileage for the year and multiply that number by the year’s standard mileage rate. For 2019, this rate is $0.58/mile. For example, if you drove 4,000 business travel miles in 2019, you could deduct 4,000*$0.58=$2,320. (If you use this method, you can also directly deduct your business-related parking and tolls.)
Either method you use, you’ll need to track your business-related mileage, so I cooked up this handy 2019 Freelance Mileage Tracking Worksheet to help you pick up the slack. You can also just use a mileage-tracking app, but I guess I’m just old-school like that!
2019 Freelance Mileage Tracking Worksheet