MileIQ Review: Best Mileage Tracking App

Would you like to save on taxes by driving to work? Sounds absurd? Well, it gets interesting, so read on. IRS under their commute to work tax deduction allows you to deduct business mileage. What does this mean? Few business trips are eligible for tax deduction like the drive from home to your office location or drive to your client’s place. Your journey from home for medical reasons or charity is also eligible under this deduction. So now, the question is how to track the mileage of business drives. The best mileage tracking app MileIQ helps you out! Check out our unbiased MileIQ review.

MileIQ Review 2020

What Is MileIQ?

MileIQ is an app designed by Microsoft. MileIQ helps you to track mileage automatically for deductions and expenses. Small business people, freelancers, and self-employed people can keep track of their car mileage accurately. It helps large organizations handle reports on mileage expenses.

MileIQ is a cloud-based app. You can access this app on the mobile phone, tablet, via the web, and from your computer. It locates your current area automatically, and once you start driving, it tracks the miles you have covered. You would need to classify the drive as personal or for business. Not only does MileIQ help you to reduce your expenses by lowering your tax liability, it also allows you to track your travel expenses.

Pros – MileIQ Review

  • Easy to set up the app and has a simple dashboard.
  • You can customize it as per your requirement.
  • You can integrate MileIQ with other apps for creating reports.
  • You can add multiple vehicles in a single app.
  • You need not manually select the start point or endpoint of the drive. It captures the location automatically.
  • You can easily classify the trip as business or personal.

Cons – MileIQ Review

  • It picks up the start and endpoint automatically if you make a pit-shop during the drive. It will consider it as one journey.
  • The app runs in the background, and the phone battery drains out quickly.

MileIQ Pricing

MileIQ offers two plans. The first is the free basic plan. The plan gives you 40 drives/month. You will be able to access mileage logs and generate reports. The Unlimited plan will cost you $5.99/month. As the name suggests, it gives you unlimited drive tracking per month. You can choose the annual plan and pay $59.99/year. The cost per month comes to $4.99. In case you have subscribed to Microsoft Office 365, then MileIQ is free to use.

Features Overview of MileIQ

MileIQ is a mileage tracking app useful for freelancers and small business people who drive for work. It tracks your drive and generates accurate mileage. You are saved from manual mileage calculations. An IRS-compliant report can be generated at the end of the year. This saves a lot of hassle of manually calculating business mileage.

After you have set up your account on your phone, it begins to log the trips you take in the car. By a single swipe, it classifies your drive as business or personal. It allows you to set up a business time-slot. Trips post business hours will be considered as a private drive.

You can add vehicles to the list of cars you drive. You can save frequent locations and use it for faster tracking. The report is easy to generate. You need to set a date as per the fiscal business year and create a report. You can customize reports and save them in PDF or CSV format. It is compatible with the iOS and Android operating systems.

MileIQ Integration

Xero and Office 365 integrates seamlessly with MileIQ.

MileIQ Customer Support Review

You can contact the MileIQ support team through various mediums. They are available on toll-free numbers. You can email, send a message or chat with the support team. You can message the help center via the MileIQ mobile app. The team is efficient in handling all queries.

Ease of Usage Rating

MileIQ app gets an excellent rating of 4.8 out of 5. It is easy to set-up. The dashboard has various drop-down menu options for you to choose from. It works on iOS and Android without any glitch. It displays the mileage and tax deduction under the Drivers tab. You can easily customize your ride details and other specifications.

How can a small businessman use MileIQ?

For a small businessman and for freelancers, a dollar saved is a dollar earned. MileIQ does just that. Once you customize your drives, it automatically tracks the mileage. The standard mileage rate for a business drive is 58 cents/mile. So if you have driven say 1,000 miles in 1 year, the total deduction you get is $580. The ease with which you can track your driven miles and computation of deduction is amazing. The report that you generate can be sent directly to your accountant during tax filing. The price could be an issue for few. But the benefits and savings that you get in $5.99/ month are substantial.

Conclusion MileIQ Review

There are many mileage tracking apps available. MileIQ is the most popular amongst the lot. It is easy to use and has viable features. Once the app is installed, it notes your location and records the distance driven automatically. There are several positive reviews from existing users. Drainage of battery seems to be the only major issue with the app. It is challenging to keep track of the miles manually, especially for the small businessman.

MileIQ solves the problem effortlessly. You get a considerable amount of tax deduction if your work involves a lot of travel. The customized mileage report can be generated with ease. In case you don’t travel much you can choose the Basic plan which is free of cost. It gives you 40 trips/month. The rest of the features remain the same. Hence without spending money, you can still avail of the benefits of MileIQ. All this makes MileIQ the right and the best app for tracking mileage.