Free Mileage Log Template for US Real Estate Agents

As a real estate agent, you are constantly on the move, visiting properties, meeting clients, and attending events. With all the driving you do, it's important to keep track of your mileage for tax purposes.

A mileage log is a simple way to keep track of your miles driven for business purposes. In this blog post, we'll provide you with a template for a real estate agent mileage log and discuss the benefits of using a real estate mileage tracker.

Real estate mileage log template - Excel, Sheets and PDF

The template includes the date of travel, the destination, the purpose of the trip, the starting and ending mileage, and the total miles driven for business purposes. The template uses the standard IRS mileage rate for 2023.

Get the real estate mileage log as a PDF, Sheets or Excel.

Using a real estate mileage log template can save you time and help you stay organized throughout the year. It can also make it easier to calculate your deductible mileage at the end of the year. By keeping track of your mileage, you can also ensure that you are reimbursed for any business-related expenses by your employer or clients.

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Other methods of tracking mileage as a realtor

In addition to the template, there are other tools you can use to track your mileage, such as mobile apps or GPS tracking devices. Whatever method you choose, make sure to keep accurate and up-to-date records of your business-related travel.

Benefits of using a real estate mileage tracker

Accurate Records: With a mileage tracker, you can keep track of all your business-related trips, including the date, destination, and purpose. This ensures that you have an accurate record of your mileage for tax purposes.

Time-Saving: A mileage tracker can save you time by automating the process of logging your trips. Instead of manually recording your mileage in a notebook or spreadsheet, you can use an app or software to track your mileage automatically.

Tax Deductions: As a real estate agent, you can deduct your business-related driving expenses from your taxes. Keeping accurate records of your mileage can help you maximize your deductions and reduce your tax liability.

Peace of Mind: By using a mileage tracker, you can have peace of mind knowing that you have an accurate record of your business-related trips. This can be helpful in case of an audit or if you need to provide documentation to your accountant.

FAQ

Why is it important for real estate agents to keep a mileage log?

It is important for real estate agents to keep a mileage log because they often use their personal vehicles for business purposes, such as showing properties and meeting with clients. By keeping track of mileage as a realtor, you can accurately report your business-related travel for tax and reimbursement purposes and maximize your deductions.

What information should be included in a real estate agent mileage log?

The following information should be included in a real estate agent mileage log: date of travel, start and end location, trip purpose (e.g. meeting with a client, showing a property), the total miles driven and Business-related expenses if you are claiming by the Actual Expenses method. (e.g. fuel, tolls, parking fees). It is important to be as detailed as possible to ensure accurate reporting and compliance with IRS laws and company policies.

How often should a real estate agent update their mileage log?

Real estate agents should update their mileage log regularly, ideally after each trip or at least once a week. This ensures that the information is accurate and up-to-date, and reduces the risk of forgetting or losing track of any business-related travel.