“Absolutely! You’ll want to keep as much information on your business as possible. Documentation like receipts, invoices, and bank statements are great ways to back up the income and expenses that you report on your tax return. You can store photos of your receipts in Stride Tax!”
“Probably! The standard mileage rate for 2017 is 53.5 cents per mile, and it’s calculated to include the average cost of gas, car payments, car insurance, maintenance, and other vehicle expenses. It’s pretty generous, so if you drive upwards of 5,000 miles per year for work, and don’t have a gas-inefficient car, then you’ll probably get a larger tax deduction than if you deducted every gas, car payment, and maintenance receipt.”