08/05/2026
🚗 Tax Update: Mileage Rate Changed July 1!
If you deduct mileage on your tax return, here is a reminder that the IRS increased the standard mileage rate effective July 1, 2026 due to higher fuel costs.
📋 Keep accurate mileage records! You’ll need to separate your business miles driven before July 1 from those driven on or after July 1 if you’re using the standard mileage deduction. Good recordkeeping now can make tax time much easier.