As we go about our daily lives we encounter places, products and services that are outstanding, bring value and enhance our experiences. These have become our favorites and we want to share them with you. Rest assured that we’re not posting any products unless we feel they can benefit you. Part of our spending philosophy is that what we buy, needs to bring value to our quality of life and that we don’t go spending the money we don’t have.
If you own rental properties and are using a car to run errands such as collecting rent, buying supplies or meeting contractors, you need to keep a log of your miles. This is where MileIQ comes into play, it’s a great tool to track your miles. MileIQ uses smart drive-detection technology to automatically log your drives and calculate their value. You get the reimbursement or deduction you deserve with a minimum amount of effort. The free version allows you to have 40 free drives per month which is enough for someone with a small amount of properties. You can pause the mileage tracking when on personal trips to avoid using up all your free drives and resume when on business drives. They also keep a log of your drives online which you can access anytime. It’s the perfect tool for mileage deduction on your taxes. You can click here to sign up online.
Rental Income/Expense Tracking Template
This is a useful template that we found online and use it to keep track of our income and expenses for our rental property. You can add it to Google Drive, that way you have access to it online.
Click below to download the Excel spreadsheet: