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Get a Bigger Tax Deduction for the Miles You Drive for Work

Drivers caught a rare midyear break from the Internal Revenue Service when the agency raised the standard mileage deduction for the rest of the year in response to higher gas prices. 

The rate change will benefit self-employed taxpayers who drive for work. Effective July 1, the rate used for calculating business tax deductions for driving on the job was increased to 62.5 cents a mile, for the final six months of the year, up from 58.5 cents for the first half of the year.