The IRS raised the 2026 business mileage rate to 72.5 cents per mile the highest ever set reflecting increased vehicle ownership costs like fuel, maintenance, and depreciation. Medical and qualifying moving expense rates dipped slightly to 20.5 cents per mile, while the charitable driving rate holds steady at 14 cents per mile. Self-employed individuals and small business owners benefit most, as employees generally cannot deduct unreimbursed business mileage under current tax law. Read More
