The IRS announced the 2026 standard mileage rate for business use is 72.5 cents per mile — up 2.5¢ from last year. You can use this rate to calculate deductible vehicle expenses if you choose the standard mileage method. 👉 Tip: Log your business miles accurately (apps like MileIQ or Everlance help). What tracking method do you use for business mileage — app, spreadsheet, or paper log?

A new 2026 rule allows you to deduct up to $10,000 in interest on a personal car loan if you meet income requirements. 👉 The Edge: This is an extra layer of savings on top of your standard business mileage rates, making it easier to save on car-related expenses. Tip: Keep records of the loan and interest payments to back up your deduction. Do you currently have a loan on your primary business vehicle?

Be careful! The IRS limits client gift deductions to $25 per person per year.👉 The Loophole: Branding is key. If your gift has your logo permanently on it (like a high-quality closing sign or a branded cutting board), it can often be classified as marketing, which has no dollar limit! - Tip: When giving gifts, make sure they have your branding to avoid the $25 limit. What is the most creative closing gift you’ve ever given?

Did you know you can rent your home to your business for up to 14 days a year for “business meetings,” and the rental income is tax-free to you personally?👉 Win-Win: Your business gets a 100% deduction for the rent paid, and you pocket the rental income tax-free. Tip: Make sure the rental is legitimate (business meetings, client appreciation events, etc.). Keep detailed records. Could you host a team meeting or a client appreciation night at your house?

If you use your cell phone for business calls, social media, or client texts, it’s now even easier to deduct it in 2026. The IRS allows you to deduct the percentage of your bill that corresponds to your business use. 👉 What’s new for 2026: If you have a dedicated work line, you can deduct 100% of that specific line’s charges — no need for complex calculations anymore. Tip: If you have one phone for personal and business use, make sure to track the business percentage and apply it to the deduction. How many hours a day do you think you spend on your phone for business?