The IRS raised the optional standard business mileage rate to 76 cents per mile effective July 1, 2026, up from 72.5 cents for the first half of the year. The medical and moving rate rose to 23.5 cents from 20.5 cents; the charitable rate stays 14 cents by statute.
Why this matters for founders
Founders and employees deducting or reimbursing business driving should update expense policies mid-year to claim the higher 76-cent rate for trips from July 1 onward.
Source: Journal of Accountancy
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