Mileage tracking for taxes
Mileage tracking records your business miles so they can be deducted at the standard rate. With MoneyFeed you text “drove 22 miles to client” and it logs the trip and applies the correct rate for that date — the 2026 US IRS business rate is $0.725/mi for Jan 1–Jun 30 and $0.76/mi from Jul 1.
2026 IRS standard business mileage rate
- • Jan 1 – Jun 30, 2026: $0.725 / mile
- • Jul 1 – Dec 31, 2026: $0.76 / mile
MoneyFeed applies the rate matching each trip’s date, so historical trips keep the earlier rate. Educational only — not tax advice. Source: IRS. Last reviewed June 2026.
Related: 1099 tax calculator, expense tracking, 1099 bookkeeping.
Mileage tracking FAQ
How does mileage tracking work for taxes?
You record the business miles you drive, and they are multiplied by the tax authority’s standard mileage rate to give a deductible amount. With MoneyFeed you text “drove 22 miles to client” and it logs the trip and applies the correct rate for that date automatically.
What is the 2026 IRS standard mileage rate?
The IRS standard business mileage rate for 2026 is split mid-year: $0.725 per mile for January 1–June 30, 2026 and $0.76 per mile for July 1–December 31, 2026. MoneyFeed applies the rate that matches each trip’s date, so past trips keep the earlier rate.
Do I need a mileage log?
Yes. To claim the deduction you should keep a record of each business trip — date, purpose and miles. MoneyFeed builds that log for you from your messages and includes it in your tax-ready reports.
Can I deduct mileage as a 1099 or gig worker?
If you drive for business as a self-employed or 1099 worker, business mileage is generally deductible. MoneyFeed adds your mileage deduction to your Schedule C expense summary; confirm specifics with a tax professional.