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For DoorDash dashers, navigating the intricacies of the IRS Mileage Rate is pivotal for maximizing tax deductions. As we move into 2024, equipping yourself with a mileage tracker that goes beyond being free or the best – one that's specifically designed for DoorDash dashers – is critical. This article aims to illuminate the significance of the IRS Mileage Rate for DoorDash dashers, explore historical rates and their implications, guide you in selecting an appropriate mileage tracker, and demonstrate how DoorDash dashers can leverage Everlance to meticulously document their mileage.
If you're a Dasher, every mile you log while delivering can contribute to substantial tax savings. The IRS Mileage Rate indicates the deductible amount per mile, directly impacting your taxable income. Anticipated to increase in 2024, this adjustment could enhance your reimbursements for operational expenses such as fuel, vehicle maintenance, and depreciation.
Understanding the mileage rate is akin to mastering a financial tool that clarifies your driving-related expenditures. For gig economy workers like DoorDash dashers, this rate is a cornerstone of efficient tax planning, ensuring you receive the rightful deductions for business use of your vehicle.
With the announcement of the 2024 IRS Mileage Rate set at 67 cents, DoorDash dashers are positioned to see increased deductions due to the escalating costs of vehicle operation. This adjustment reflects the growing expenses associated with driving, emphasizing the importance of meticulously tracking every mile for DoorDash deliveries. Accurate mileage tracking is directly linked to your tax savings, and by utilizing Everlance, dashers can ensure no deduction is overlooked, thereby maximizing take-home earnings after taxes
Selecting the right tool to track miles for DoorDash should prioritize ease of use. Everlance stands out as a user-friendly app that autonomously logs each mile, eliminating manual tracking. When evaluating mileage and expense trackers, consider these factors:
and we are proudly the preferred mileage tracker of DoorDash!
As a Dasher, tracking every mile with Everlance not only simplifies your tax preparation but also maximizes your deductions. By distinguishing between business and personal trips with a simple swipe, Everlance ensures that every work-related mile is accounted for, enhancing your tax refunds.
In conclusion, don't let potential savings slip through the cracks. Adopt Everlance to ensure every mile driven for DoorDash contributes to your tax savings, making the most of the 2024 IRS Mileage Rate.
Dashers get 20% off an Everlance Premium subscription, unlocking even more tax savings, and doing so in an automated way.
Brad Thibeau is the Head of Partnerships at Everlance, and has held that role since 2021, with a focus on helping self employed people save time and money on their taxes.
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