Are you a business owner or self-employed? Do you drive for business purposes? If so, you’ll be happy to know that the IRS’s standard mileage rate for business driving in 2026 is 72.5 cents per mile (up from 70 cents in 2025).
Meanwhile, the medical mileage rate is 20.5 cents per mile, and the moving rate is also 20.5 cents per mile for eligible taxpayers who can still deduct moving expenses. The charitable rate is 14 cents.
You can choose to deduct eligible vehicle expenses based on business use under the actual expense method or by applying the standard mileage rate, which simplifies recordkeeping. Bear in mind, however, that the IRS requires documentation in either case.
Contact our office for help determining which approach delivers the greater tax benefit for your situation.