January 9, 2012 in Finance (E)
[prMac.com] American Fork, Utah - The popular iPhone mileage log application, MileBug, has been updated to include the IRS 2012 tax deduction rates. The IRS has actually only changed the Medical/Moving rate, decreasing it by one-half cent. The rates for 2012 are as follows:
* 55.5 cents per mile for business miles driven
* 23 cents per mile driven for medical or moving purposes
* 14 cents per mile driven in service of charitable organizations
MileBug now incorporates these rates for the period of January 1, 2012 and forward. For those that have different rates due to geography or employment, these rates may be edited in the Presets tab under Types/Rates.
Back in 2008, just 2 weeks after the iPhone SDK was announced, plans were started for the development of MileBug. It eventually went live in the App Store on August 25th, 2008 as one of only 2500 apps then available in the store.
Over the past 3 years, MileBug has enjoyed some recognition:
1) In January 2010, MileBug was highlighted in the What's Hot section of 57 App Stores worldwide.
2) Also in January 2010, MileBug rose to be the #1 Finance app in Ecuador and #2 Finance app in the United States.
3) Featured in the Apple's WorldWide Developers' Conference (WWDC) banners both in 2009 and 2010.
4) The MileBug logo appeared in the front window display of the Apple stores in San Francisco and Salt Lake City.
Popular on the iPhone and iPod touch, MileBug was released for the Android and Nokia/Symbian platforms in the summer of 2010, and Nokia/Qt in Spring 2011.
To make next year's taxes that much easier, and the tax returns that much larger, MileBug helps those driving their own vehicles for business, or other reasons receive their reimbursement and/or tax deduction. From small to big business, from realtors to direct sales consultants, MileBug continues to serve those needing a mileage tax break.
"I have used this now for a year and it has been a lifesaver." - customer review
"As a realtor, I am always going somewhere. This program makes it extremely easy to track my miles for tax purposes." - customer review
"Milebug saves you time and money; and is a MUST have for any business owner." - iReviewiPhoneApps
In the U.S., the IRS business rate for 2011 (July-Dec) is 55.5 cents/mile. MileBug for the iPhone/iPod touch helps people track their miles and provides emailed reports for easy submission to employers, accountants, and the IRS.
"MileBug is a mileage tracker for your iPhone or iPod touch that makes it super easy to ... track your mileage. This is great if you need to report your mileage to your boss ... the [IRS] ... or for any personal reasons." - AppStoreApps
"In my job, I need a way to track mileage for work trips around town. MileBug does a great job of providing a really simple (and IRS friendly) method of tracking my trip logs. I really like how I can export the reports to email for reimbursement and reporting." - The Apple Blog
Inside the MileBug app is an option to select kilometers instead of miles. From within the Presets, users can define custom rates for business, charity, medical, and other categories. If you get one rate from your employer for reimbursement, and another rate from the IRS for your side business, you simply create two different business rates.
* iPhone and iPod touch
* Requires iPhone OS 3.1 or later
* 1.0 MB
Pricing and Availability:
MileBug 2.1.5 for iOS is $2.99 USD (or equivalent amount in other currencies) and available worldwide through the App Store in the Finance category.
Izatt International is an iPhone/iPad application development company in American Fork, UT. Izatt develops applications internally and accepts outside development projects. Copyright 2008-2012 Izatt International. All Rights Reserved. Apple, the Apple logo, iPhone and iPod are registered trademarks of Apple Computer in the U.S. and/or other countries.