What exactly is the IRS mileage rate?  Each year the Federal Government establishes a standard IRS mileage rate for business mileage based on several factors including the current and future price of gasoline and oil, cost of new vehicles and other factors of our US economy. Mileage Track mileage log software lets you keep up with your business mileage and the IRS mileage rate in just minutes. Entering your business trips into the program will create a mileage log for you showing the standard IRS mileage rate and any reimbursement rate that your company pays you if any. Mileage rate expense must be documented in order for you to claim the IRS mileage rate deduction on your taxes each year. Below is a sample of the  mileage log that Mileage track prints after you enter your mileage. The software keeps track of your mileage and the current IRS mileage rate. If the IRS mileage rate changes during the year as it did in 2008 you simply change the rate for each vehicle that you drive to the new mileage IRS allows and the program will automatically start tracking the new mileage rate and any reimbursement rate.

The IRS mileage rate that can be taken for a tax deduction is based on the combination of business mileage, commute mileage and personal mileage subtracted from your total miles driven for each vehicle that you use during a given tax year. IRS mileage or as it is sometimes called IRS gas mileage is the basis for computing the IRS mileage deduction on your taxes each year that you drive for business purposes.