Mileage Deduction Calculator
See what your business miles are worth at the 2026 IRS standard mileage rates, $0.725/mi for miles driven Jan 1 – Jun 30 and $0.76/mi for miles driven on or after Jul 1, and roughly how much you’d save in taxes. An estimate for educational purposes.
Estimated mileage deduction
$8,910
IRS rate, Jan–Jun 2026
$0.725/mi
IRS rate, Jul–Dec 2026
$0.76/mi
Raised mid-year by IRS Announcement 2026-11
Self-employment tax saved
$1,259
15.3% on 92.35% of the deduction
Income tax saved
$1,822
At your marginal rate
Total estimated tax savings
$3,081
Both taxes combined
Gigaverse tracks this automatically, deductions, quarterly taxes, and retirement, every payout.
Join the free waitlist →The IRS raised the standard mileage rate to $0.76/mile for miles driven on or after July 1, 2026 ($0.725 for Jan 1 – Jun 30). Standard mileage rate applies to cars and light vehicles with a contemporaneous mileage log. Owner-operators of heavy trucks use the actual-expense method instead. Savings assume net self-employment earnings below the Social Security wage base, where the full 15.3% applies; above it only the 2.9% Medicare portion does. An estimate for education, not tax advice.
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Frequently asked questions
What is the 2026 IRS standard mileage rate?
There are two for 2026: $0.725 per business mile for Jan 1 – Jun 30, and $0.76 per business mile for miles driven on or after Jul 1 (raised mid-year by IRS Announcement 2026-11). Rates apply to cars and light vehicles; you multiply business miles in each period by that period's rate. (Owner-operators of heavy trucks use the actual-expense method instead.)
How much can gig drivers save with the mileage deduction?
It depends on your miles and tax bracket. Many full-time drivers log thousands of business miles a year and under-track them. The deduction lowers your taxable income; your actual savings equal the deduction times your marginal rate.
Do I need to track every mile?
Yes, the IRS expects a contemporaneous mileage log. Gigaverse auto-tracks every business mile so the deduction is documented at tax time.
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Disclaimer: This calculator is for educational and informational purposes only and does not constitute financial, tax, or investment advice. All results are hypothetical estimates based on the inputs and stated assumptions, are not guarantees, and do not account for your full tax situation, state taxes, or credits. Gigaverse AI, Inc. is not a bank; brokerage services are provided through a FINRA/SIPC-member broker-dealer. Consult a qualified professional before making financial decisions. Full disclosures →