IRS Mileage Rate for 2026 Increased
If you use your personal vehicle for business driving in 2026, you can deduct your actual costs or rely on an IRS-set mileage rate (certain conditions apply). For 2026, the rate is $7.25 per mile, which is $2.5 per mile more than in 2025. This rate can also be used by employers to reimburse employees for their business driving under an accountable plan. Note your odometer reading now and follow recordkeeping rules to back up a deduction for business driving.
This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client.
For further information please contact me at www.kmckernanlaw.com kevin@kmckernan.com or 718-317-5007.