The IRS (announced July 13, 2026) increased the standard business mileage rate to 76 cents per mile effective July 1, 2026, up from 72.5 cents at the start of the year; medical/moving mileage rose to 23.5 cents. It's a rare mid-year adjustment reflecting higher vehicle costs.
Home › Founders News › Taxes & Grants
IRS raises business mileage rate to 76 cents/mile from July 1, 2026
Why this matters for founders
Update your expense-reimbursement and bookkeeping policies to the 76-cent rate for miles driven after July 1 so you capture the full deduction and reimburse employees correctly.
Source: IRS / Forbes
Related updates
More that helps you.
Australia makes the $20,000 instant asset write-off permanent from 1 July 2026
The Treasury Laws Amendment (Tax Reform No. 2) Act 2026 received Royal Assent on 26 August 2026, permanently setting the small-business instant asset write-off at $20,000 per asset…
Ontario cuts small business corporate tax rate to 2.2% as of July 1, 2026
Effective July 1, 2026, Ontario dropped its small business corporate income tax rate from 3.2% to 2.2% on the first $500,000 of active business income for qualifying CCPCs, lowerin…
$20,000 instant asset write-off made permanent from 1 July 2026
Parliament passed the Treasury Laws Amendment (Tax Reform No. 2) Bill 2026 in August 2026, permanently extending the $20,000 instant asset write-off from 1 July 2026. Up to 4.1 mil…
Brazil excludes Simples Nacional firms from automatic IBS/CBS split-payment in 2027
Resolution CGSN No. 190/2026 (published 10 August 2026) and Decree No. 12,955/2026 confirm that when split payment begins in 2027 its first stage reaches only buyers under the regu…
Get briefs like this tuned to you.
In the app, Founder Briefs are personalized to your country, industry and stage, and you can save the ones that matter.
See plans →
Keep exploring
Related across the site
ToolGustoGusto runs full-service payroll for US businesses, handling paychecks, tax filing, and direct deposit, plus benefits, onboarding, and contractor payments. It automates federal, state, and local payroll tax compliance.ToolFreshBooksFreshBooks is cloud accounting and invoicing software aimed at freelancers and service-based small businesses, with strong time tracking, expenses, and client billing.ToolQuickBooksCloud accounting software for tracking income and expenses, invoicing, and preparing for taxes.Term409A ValuationAn independent appraisal of a private company's common stock, used to set the strike price for employee stock options in the US.ChecklistFile business taxes with TurboTax, soloWalk through a calm TurboTax filing for your business: gather records, claim honest deductions, avoid red flags, and know exactly when a pro is worth it.ChecklistHire an accountant that saves you moneyChoose between a CPA, an EA, and a bookkeeper, hire with confidence, and build a quarterly rhythm that catches tax savings before deadlines hit.