I’m a small business guy in Annapolis, and have been for the past 5 years. It’s a great adventure with a pretty good mix of fun and stress.
One thing that tends to cause more stress than others for most of us in a Maryland small business, is dealing with taxes and tracking expenses. It’s always a challenge to make sure we can get the biggest tax deduction possible.
Tracking Annapolis Business Mileage
Whether you’re in an exceptional MLM business, a realtor, in sales, or just run your own shop, one of the more annoying things can be the tracking of business mileage – the trips we take driving our own sedan around the Baltimore area. And with the IRS giving a 56.5 cents/mile tax deduction to taxpayers in Maryland, we can hardly afford not to! Making a mileage log of our Maryland trip miles can make a big difference.
My cousin, a Maryland real estate agent, has kept a little notepad in his red car where he jots down odometer readings and destinations. That works pretty well until it’s tax time and his wife, the accountant in the family, has to enter it all in a spreadsheet and tally up the totals, calculating the deduction they can take for the year. It’s a pain, and there have been times when the notebook has been lost or overwritten with an important phone number.
A great help in the last few years have been the advent of smartphones into our everyday lives. I usually opt for an app called MileBug to track my business miles. I use MileBug for iPhone, but there’s also MileBug for Android and MileBug for Windows phones, too. Some quick entries each time I get in the car, and the app does the rest. I can even track my trip with GPS if I want for trips around Annapolis or anywhere.
I can generate a report in seconds that lists out all my trips, the distance travelled, all totaled up with the tax deduction in bold. At tax time, I can simply email that report to my Maryland accountant right from MileBug on my phone. Done!
Just a tip I thought I’d pass along, from one small business owner to another.
Check it out at the weblog: www.milebug.com.
I am Business Entrepreneur, and I am a Annapolis-based Xocai artisan chocolate distributor. I joined Xocai in October 2006. I sell the industry-leading Entrepreneur Tips and Entrepreneur Marketing online and in Annapolis, Barnesville, Rockville, and Frederick. Our valued Baltimore customers recommend Entrepreneur Marketing because Entrepreneur Marketing entrepreneurs are making money these days.
Entrepreneur Support is also a fantastic Entrepreneur Tips home-based business within 22 miles of the Baltimore area. Maryland entrepreneurs can supplement their income by cashing in on a high-demand Maryland healthy artisan chocolate market. To learn more about Entrepreneur Support, visit http://top-business-entrepreneur.com/.
Call me at 801.809.7766 to own your own Entrepreneur Tips business in Annapolis, Barnesville, Rockville, or Frederick.
The URL for my personal Baltimore Xocai chocolate web page in Annapolis, Maryland 21260 is http://top-business-entrepreneur.com/. The URL for another one of my 22 Maryland Xocai artisan chocolate web pages is http://top-business-entrepreneur.com/. I also have a Maryland healthy chocolate page at http://top-business-entrepreneur.com/.
