irs-mileage-rates
IRS Standard Mileage Rates for Money Pro
Money Pro uses the IRS standard mileage rate to calculate your business mileage deduction automatically. The current rates in our tracked content are $0.70 per mile for 2025 and $0.725 per mile for 2026. Money Pro applies the correct rate based on the trip date.
Current Rates
| Tax Year | Standard Business Mileage Rate |
|---|---|
| 2025 | $0.70 per mile |
| 2026 | $0.725 per mile |
How Money Pro Uses These Rates
When you log a trip in Money Pro:
1. You enter the trip date and miles driven
2. Money Pro checks the trip date's tax year
3. The app applies that year's IRS rate automatically
4. The deduction appears instantly in your mileage totals and tax reports
Example:
- 25 business miles in 2026
- 25 × $0.725 = $18.13 deduction
Standard Mileage vs. Actual Expenses
The standard mileage method uses a per-mile deduction. The actual expense method uses a percentage of your real vehicle costs, such as:
- Gas
- Insurance
- Repairs
- Maintenance
- Registration
- Depreciation
Most small business owners choose standard mileage because it's simpler. If you choose actual expenses for a vehicle in its first year, switching back later may be restricted. Talk to a tax professional if you're unsure.
Frequently Asked Questions
Do I need to update the mileage rate manually in Money Pro?
No. Money Pro applies the appropriate rate automatically based on the trip date.
Does the IRS rate change every year?
Usually, yes. The IRS may update the standard mileage rate annually. Money Pro should apply the updated rate for new trips in the new tax year.
Does the mileage rate include gas?
Yes. The standard mileage rate is designed to represent the total operating cost of a vehicle, including gas, wear and tear, maintenance, and depreciation. If you use standard mileage, you generally should not also deduct gas separately.
Related Articles
- How to Track Business Mileage in Money Pro
- How to File Taxes with Money Pro
- Money Pro Quarterly Tax Estimates
Still need help? Email moneysupport@zenbusiness.com or call (844) 493-6249.