How it works
The IRS standard mileage rate turns business miles into a deduction without adding up gas, insurance and repairs. In 2026 the rate changed mid-year: 72.5 cents a mile for business driving from January 1 to June 30, and 76 cents from July 1, so miles have to be split by when you drove them. In the example, 4,200 business miles in the first half and 4,600 in the second come to $3,045.00 + $3,496.00 = $6,541.00, plus $160 of parking and tolls: $6,701.00. The medical rate also changed, from 20.5 to 23.5 cents; the charity rate is fixed by law at 14 cents. The mileage log spreadsheet records each trip as you drive it and applies the right rate by date.