Guide

How much is business mileage worth in 2026?

Q: How much is business mileage worth in 2026?

For 2026, the IRS business mileage rate is 72.5¢/mile for Jan 1–Jun 30 and 76¢/mile for Jul 1–Dec 31. TradesTimer automates this tracking by recording every trip and distance between jobsites without you needing to start a timer.

By Ryder Wishart — trades experience and contractor office administration · Updated 2026-11-04

2026 mileage rates

In the US, the IRS standard mileage rate for 2026 is 72.5¢/mile for miles driven Jan 1–Jun 30 (IRS Notice 2026-10) and 76¢/mile for miles driven Jul 1–Dec 31 (IRS Announcement 2026-11). In Canada, self-employed people deduct actual vehicle expenses × (business km ÷ total km) on T2125. The CRA's per-km rates (73¢ first 5,000 km, 67¢ after; add 4¢ in territories) are employer allowance rates, not self-employed deduction rates.

This is general info, NOT tax advice.

Requirements for a valid log

To satisfy the IRS, a valid mileage log must record the date, destination, business miles, and business purpose for every trip, kept contemporaneously (at least weekly).

TradesTimer handles this by using background GPS to auto-detect 'stops' and 'trips,' capturing the distance for every leg of your workday automatically.

The standard mileage election

If you use a vehicle for business, you must elect the standard mileage rate in the first year the car is used for business.

TradesTimer provides the necessary mileage log and trip data to help you maintain the records required for this election.

FAQ

How often should I update my mileage records?

You should update your records at least weekly to ensure they are considered contemporaneous.

Does TradesTimer require me to manually start a timer for every job?

No, the app uses background GPS to auto-detect stops and trips without any manual input.

Last updated 2026-11-04.