The IRS has raised the standard mileage rate to 76 cents for July - Dec 2026

The IRS has raised the standard mileage rate as of July 1st, 2026, which is good news with a little bit of bad news because it means that we need tighter documentation. This is in effect because of rising fuel costs due to the conflict in Iran. So if you're self-employed and driving anywhere for business outside of your standard commute, you should always have a mileage log anyways. For miles driven from January 1st to July 1st, the rate is 72.5 cents. Then from July 1st to the end of the year, that jumps to 76 cents per mile, which honestly is a pretty cute business expense that adds up really quick. So if you were using your personal vehicle for work and you're self-employed, there's two ways that you can take the vehicle expense. This is the standard mileage method, meaning that you're tracking every mile that you drive for business, you pay for gas out of your personal account, at the end of the year we get you a credits when we file your taxes. Another way is to track all the miles that you drive total, track all of the miles that you drive for business, find that percentage, and you can take that percentage of your lease, your insurance, repairs, and maintenance. You can't switch around, so once you choose one of these methods, you need to stick with it. At this point, I would definitely suggest the standard mileage. 76 cents per mile, pretty good. Keep good documentation and follow along for more judgement free tax help.