CONTACT US: 800-293-0420 LOGIN

Can GPS Tracking Help With My Business Taxes?

Can GPS Tracking Help With My Business Taxes?
March 20, 2018 Fleet Tracking Editor

gps tracking for business taxes

 

Tax season deadlines are bearing down on us, and many businesses are right in the middle of what many of us consider a quite painful process. While our GPS tracking application can do many things for your business, sadly it can’t do your taxes for you. What it can do, however, is help you with data accuracy so that you can provide precise and detailed information as you sit down with your CPA, tax prep software or professional.

GPS tracking devices do so much more than simply monitor the activity of your fleet. They can provide key data that can prove itself invaluable when it comes to business operation and tax preparation.

Here are our favorite ways to use GPS tracking to help with your tax preparation:

Mileage Tracking + GPS Tracking

Do you have to track and report mileage? GPS tracking devices accurately log each and every mile that a vehicle covers during the course of a work day. Simply pull up your mileage reports and record the data. You’ll have your logs as backup, should you find yourself needing to verify numbers with the IRS. Relying on your GPS tracking system to track the mileage for you can help you avoid the need to haul around a manual logbook and minimize the chances of data loss.

Driver Compensation + GPS Tracking

The reports that your GPS tracking software can provide to you will allow you to determine, with accuracy, the number of hours put in by your mobile work crew. This not only helps with payroll, but it will help to ensure that you have accurate records when it comes time for tax season.

When it comes to the preparation of your business’ taxes, it’s vital that you have multiple sources of accurate data. The Rhino GPS tracking solution will put at your fingertips the tools needed to ensure your business reports only the most accurate data come tax season.