App Reccommendation: MileIQ

Just wanted to drop this on everyone. I decided that I should finally track my miles in 2020. The going rate is about 55 cents per mile worth of write off.

As someone that drives 30k mile per year, 20k of which for business… This is pretty game changing. I should have been doing this for years.

The app is pretty cool and briefs you once per day to ask you to classify trips you took. Swipe right for business or left for personal.

In the 24 hours since it has been active on my phone, and I haven’t gone very far, I have been able to accrue 43 miles for $25 worth of writeoff… As you can imagine with my relatively modest used cars, that will add up to a pretty nice write off. Even the S will cost less than that per mile while I own it.

I know it is important to note that I am not depreciating the cars on straight line or with a bonus 6k GVWR thing. I am also not directly expensing and tracking mileage at the same time. Just mileage. Mileage is a bigger write off for me.

Anyway… If you aren’t tracking miles… This is a killer way to get it done.

[Edit Feb 27, 2020]
Quick update.

How does ~$7300 per year worth of write off sound?

Kyle Keegan

Kyle Keegan is a 30-year-old serial entrepreneur from Houston, TX. He has been self-employed since age 19 and has made every sacrifice and hustle necessary to make it work. Currently the CEO of three companies. Kill Bigger Media, providing high quality and educational business resources to entrepreneurs. A VC funded government technology startup and finally an industrial supply company serving some of the world’s largest companies. He is passionate about philanthropy, freedom, capitalism, economics, personal finance, investing and real estate. He has a BA in Business from Baylor University.

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