The IRS standard mileage rate is a per-mile deduction businesses and self-employed individuals can use instead of tracking actual vehicle expenses. 2026 rate: 70 cents per mile for business use. Standard mileage includes gas, maintenance, depreciation, insurance, and registration. Alternative: actual expense method (track all vehicle costs, deduct business-use percentage). Once you choose actual for a leased vehicle, you can't switch to standard mileage. Track miles consistently using apps like MileIQ or Stride. The medical/moving rate (21 cents) and charitable rate (14 cents) are much lower. Commuting between home and regular workplace is never deductible.
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Standard Mileage Rate
August 22, 2026 · Aditya Gupta
Tax
Related terms
Alternative Minimum Tax
Alternative Minimum Tax (AMT) is a parallel tax system designed to ensure high-income taxpayers pay a minimum. Calculate…
American Opportunity Credit
The American Opportunity Credit provides up to $2,500 per student per year for the first four years of…
Bunching Deductions
Bunching deductions is the strategy of concentrating itemizable expenses into alternating years to exceed the standard deduction in…
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Charitable contribution deductions allow taxpayers who itemize to deduct cash donations to qualified 501(c)(3) charities up to 60%…
Child Tax Credit
The Child Tax Credit (CTC) provides $2,000 per qualifying child under 17, with $1,600 refundable as the Additional…
Deductible Business Expense
A deductible business expense must be both 'ordinary' (common in your industry) and 'necessary' (helpful to the business).…
