As of July 1^st, 2026, the IRS has raised the standard mileage rate to 76 cents/mi from 72 cents/mi! So, for the rest of the year you will be getting an additional 4 cents/mi.

Last year the rate was 70 cents/mile, so now that is an additional 6 cents/mi this year!

Also, the medical mileage rate has increased from 20.5 cents/mi to 23.5 cents/mile.

We know this is to offset the continual increase in the cost of gas at the pump, but rejoice because, as business owners you get to recover a percentage of your vehicle expenses through your mileage deduction which the average citizen or employee cannot do.

As always, we at Mileage Trakker keep trakk of these changes and will be making sure your mileage reports from July onwards reflect this new rate. Here’s to more Tax-Free money in your pocket from your driven mileage!

The Mileage Trakker Team

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