Mileage Deduction Tracker
2024 rate: 67¢/mile. Enter your business miles and vehicle expenses to see which method — standard mileage or actual expenses — gives you the bigger deduction, and exactly how much it saves at your tax rate.
Vehicle & Miles
Standard mileage wins by $1,479
Simpler to claim — no receipts needed, just an IRS-compliant mileage log.
$5,695
best deduction
You've driven 8,500 business miles — at $0.67/mile that's $5,695 off your tax bill (standard method).
IRS log requirement (Pub. 463): For each business trip record: date, destination, business purpose, and miles driven. Apps like MileIQ or a simple spreadsheet work fine. The log must be contemporaneous — not reconstructed at tax time.
$5,695
Tax savings: $1,538
No receipts — just a mileage log
$4,216
Tax savings: $1,138
Requires all vehicle receipts
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The IRS requires contemporaneous records — log miles the same day, not at year end. Apps like MileIQ or Everlance make this automatic. Reconstructed logs created at audit time are a red flag and may be disallowed.
Source: IRS Publication 463