Which Mileage Method to Use

I’ve talked about mileage tracking in a previous blog, but let’s dive a little deeper.

If you’re using your vehicle for relief work, it’s important to understand how to track those expenses correctly.

Freelance veterinarians and technicians typically use the standard mileage method, which allows you to track business miles and apply the IRS-approved rate.

There is also the actual expense method, which includes things like:
• gas
• maintenance and repairs
• insurance
• depreciation

Most relief veterinarians and technicians find the mileage method to be the simpler and more practical option — but every situation is different. I currently use the mileage method, but I regularly check in with my tax advisor to evaluate whether or when it might make sense to switch to the actual expense method.

Consult with your tax professional to determine which method is best for your situation before choosing.

Whichever method you use, consistency and good recordkeeping are key to making sure you capture the full benefit.