September is here and we are more than halfway through the year. It is not too late to start thinking about tax deductions. One of the top tax deductions for real estate pros is car expenses (mileage). The cost of all the driving you do for your real estate business – showing properties, purchasing supplies and meeting clients – is tax deductible. In other words, every drive is worth money.

Here are three popular mileage trackers that will automatically capture your drives. They are all very different in terms of pricing, features, interface, etc. These are by no means the only options, but they’re representative of what’s available:

 MileIQ           www.mileiq.com

InterfaceFeaturesPrice
Android, iOS
  • Classifies drives as business or personal
  • Stores complete drive history in the cloud
  • Calculates the values of your drives – at the IRS standard mileage rate
  • Generates reports accepted by IRS
  • Free version for up to 40 drivers per month.
  • Upgrades available for monthly or yearly subscriptions

 

Mileage Expense Log       https://www.chuchutrain.com/mileage-expense-log.html

InterfaceFeaturesPrice
Exclusively for iOS
  • Sort by date, purpose and vehicle
  • Track additional expenses such as tolls
  • Apple Watch-compatible
  • Free version
  • Pro-Version: $3.99

 

TripLog         https://triplogmileage.com/

InterfaceFeaturesPrice
Android, iOS
  • Fuel economy and expenses tracking
  • IRS compliant reports

 

  • Free version (up to 5 vehicles)
  • Upgrade available for $15-$20 annually

 

More popular mile tracking apps: