Attention all notaries! The IRS has recently announced its updated mileage reimbursement rate for 2025, and it’s time to take note!
Starting January 1, 2025, the new mileage rate is 70 cents per mile. This rate applies to miles driven for business purposes, including trips to meet clients, sign documents, and perform mobile notary services.
Why Does This Matter for Notaries? As a notary, your vehicle is often your mobile office. Keeping track of your business mileage can save you money at tax time by maximizing your deductions. Whether you’re driving across town to notarize documents or handling loan signings in another city, every mile counts!
How to Stay Organized
1️⃣ Track Your Miles: Use apps like MileIQ or QuickBooks Self-Employed to log your trips automatically.
2️⃣ Keep Records: Note the purpose of each trip, the date, and the number of miles driven.
3️⃣ Stay Updated: Mileage rates can change yearly, so make sure to adjust your calculations accordingly.
Pro Tip: Remember, only business-related mileage qualifies for the deduction—not your commute or personal trips.
By staying informed and organized, you can ensure your notary business runs smoothly and remains tax-efficient.
For more tips on managing your notary business or staying compliant with IRS guidelines, follow our page for regular updates!
What’s your go-to tool for tracking mileage? Share your tips in the comments below!
Comments