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    IRS Issues New 2026 Cents-per-Mile Rates for Tax-Deductible Car Operating Costs

    1 month ago

    The Internal Revenue Service (IRS) has issued new cents-per-mile rates for calculating tax-deductible vehicle operating costs for 2026. The new regulations, effective January 1, show that the standard mileage rate for business use of a car is now 2.5 cents up from 2025. To protect their deductions, owners of cars or fleets must keep track of their mileage records. Self-employed individuals, gig workers, freelancers, or various small busin... (continue reading...)
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