Maximize Tax Deductions with Accurate Mileage Tracking
For real estate agents, accurate mileage tracking is essential to maximize tax deductions. The IRS allows realtors to deduct every business mile driven using the standard mileage rate, which can significantly reduce taxable income. In 2026, this rate is $0.725 per mile, covering all vehicle expenses for business use. Properly tracking these miles can result in substantial tax savings, making it crucial for real estate professionals to maintain detailed records of every business trip.
Harvest provides a straightforward solution for realtors to manually track mileage expenses for property showings and client meetings. By creating a mileage expense category within Harvest, agents can easily enter and categorize the miles driven. This manual tracking method ensures that realtors capture all eligible miles, supporting accurate deductions at tax time.