If You Are Self-Employed
If you’re self-employed, then the government treats you like a one-person corporation who needs to pay taxes on the profit of your business. The government already knows how much you made, so the revenue you report during tax season isn’t going to change — this is already found in your 1099 or another tax document. However, the burden of what you claim for business expenses is on you, and this is where Everlance can help!
Everlance lets you automatically track all your miles and other business-related expenses.
The more expenses you can explain and record, the less you have to pay in taxes. As a freelancer, it’s important to remember that your chances of the audit are significantly higher than the average employee. Not to worry! Everlance stores a digital receipt of all your transactions on our secure server, so you can rest easy knowing that in the event of an IRS audit you’ll be able to provide a record of your expenses.
If You Are Reimbursed by Your Employer
Many employees are reimbursed by their employer with a certain rate per mileage and mileage and other expenses. If you use Everlance, you can track your mileage but you can also go ahead and calculate the rate per mile that you'll be paid by your employer. It is currently set at the 2019 IRS Standard Mileage Rate which is $0.58 per mile.
However, you can customize this at any rate that your employer reimburses you for. Click here to learn how!
Everlance generates an expense report with all your mileage and expenses.
Many employers require an expense report displaying records of your mileage and business-related transactions. With Everlance, your mileage is automatically recorded and you can track your expenses (and include images of the receipt for proof of purchase). You can learn how to generate a report for your employer by clicking here.
If you have any questions, please send us an email at firstname.lastname@example.org. We'd love to hear from you!