Reader’s Digest reports that over 3.6 Billion miles were put on realtor’s cars in 2011 while driving clients around. That means those real estate agents were able to claim (if they had documented them) over $1.8 BILLION in mileage tax deductions! If only they all had MileBug’s mileage log for taxes.
The IRS tax rate for 2011 was actually increased mid-year from $.51/mile to $.555/mile for an average rate of $.5325/mile. Multiply that by 3.6 billion miles, and that’s $1,917,000,000 ($1.917 Billion) in tax deductions. Business trip miles really add up!
If you were one of the many realtors using the mile tracker app, MileBug, on your iPhone, Android, or Windows Phone, then you had some nice reports to use when doing your taxes, and you got part of that multi-billion dollar chunk. If not, then why not get your chunk in 2013? A mileage log for taxes has never been easier. Download it now for only $2.99:
About the product: MileBug is a mileage log for taxes. It is a product of Izatt International. The idea was to create a product that customers could easily use to record their miles as they are traveling, calculate in real-time how much their deductions are, and generate friendly reports for tax forms. It is quickly being regarded as the best app of its kind. Currently, the mile tracker app is available for iOS, Windows Phone, and Android.