Mileage log - sustany/dvg GitHub Wiki

A mileage log is a company�s record of the mileage driven in each of their vehicles. The main reason why companies should have a mileage log is because of the possibility of an Internal Revenue Service (IRS) audit. According to the IRS, an IRS audit is a review of a company�s accounts and financial information to make sure that such information is correct and to verify that the reported amount of tax is correct.�

Therefore, in case of an IRS audit, companies should have a detailed record of the mileage of each trip, for each vehicle. Although it may seem tedious, some companies that merely estimate the mileage they use for their business may lose a significant amount of tax deductions. Tax deductions are important because they allow companies to save money by reducing their taxable income.�