How to Track Travel Expenses for Work
Maximize your travel expense deductions with this comprehensive guide to tracking mileage, lodging, meals, and transportation costs for work.
How to Track Travel Expenses for Work
Tracking business mileage and travel expenses is one of the most overlooked opportunities for tax savings. This guide covers mileage and travel deduction tracking, helping you maximize your deductions legally and effortlessly.
The Two Methods for Vehicle Deductions
When it comes to business driving, you have two options:
- Standard Mileage Rate: Multiply your business miles by the IRS-approved rate (67 cents per mile in 2024). This is simpler but requires a detailed mileage log.
- Actual Expense Method: Track every cost—gas, insurance, repairs, depreciation—and deduct the percentage used for business. This requires more documentation but can yield higher deductions for expensive vehicles.
What Counts as Business Travel?
- Driving to meet a client or prospect
- Trips to the office supply store
- Travel to conferences and networking events
- Trips between different work locations
Note: Your daily commute from home to your primary office does not count as business travel.
Digital Tracking is Non-Negotiable
Paper mileage logs are error-prone and easy to lose. Modern tools like Recifi allow you to log mileage with a quick voice command or receipt scan, ensuring every business mile is documented and ready for tax season.
Start tracking your travel expenses with Recifi and capture every deduction you're entitled to.