Mileage and expenses tracker in Rydar 2.0
If you’re driving for multiple ride-hailing and/or delivery services, you may find it not so easy to track your mileage. However, accurate logging of business trips is necessary for maximizing your tax deduction: just 1 mile driven for business equals 58 cents in 2019 (54.5 cents in 2018.) Rydar provides a simple automatic mileage tracker that works perfectly well for ride-hailing and delivery drivers.
How mileage tracker works
It’s super easy: When you start driving for business (ride-hailing or delivery), open Rydar and select the corresponding status in the app (e.g. Uber). That’s it, Rydar will run in the background and all trips you make with the status active will be logged as business trips made for a particular service (e.g. In this case Uber). When you arrive home, change the status back to Personal or change it to another service (e.g. Lyft) when you start driving for it to make sure trips are logged correctly.
If you are eligible to use the Actual expenses method of tax deduction or want to keep track of how much you actually spend on your vehicle and then compare this amount with the tax deduction using the Standard mileage method, Rydar allows you to do so. You can easily log all vehicle-related expenses in the app.
In addition to deducting business mileage using Standard mileage method or Actual expenses methods, you can also deduct certain expenses associated with your business, such as car wash, parking fees, etc. You can find a full list in the Rydar app. To add a new expense, open Dashboard, tap the “+” sign, select the Expense and add all the necessary info. You can also set the expense to repeat, e.g. your monthly payments for a data plan, and take pictures of receipts to store them in the cloud – these features are available in the Premium version of Rydar.
After you complete a “shift” driving for a certain service, we urge you to enter how much you’ve earned. Why? The answer is – we want to help you determine the services that bring you more money, see accurate hourly rates and, most importantly, send you tips on how to effectively toggle between services. For example, we can suggest times when it’s more profitable to drive for one service and when for another. If you haven’t yet signed up to drive for some third service available in your region, and we see that other drivers are making a lot of money working for it, we can offer you to sign up too. You can even add your tips and bonuses to earnings to get the most accurate picture.
Stats and reports
In your Dashboard in Rydar you can view full and detailed information about your gig economy driving jobs. You can select any timeframe and compare your earnings and hourly rates, see breakdown by days, amount of miles you’ve driven for business and for personal purposes and amount of tax deductions you’re eligible to.
Mileage and expenses tracker in Rydar is a powerful tool that uses the latest technology to help you maximize both your earnings and tax deductions. Have any questions about the way it works? Ask here or drop us a line at email@example.com – we’d be happy to help!