Toro’s Accounting LLC

🚗 **IRS Mileage Rate Update – Effective July 1, 2026**

The IRS has increased the standard mileage rate for the second half of 2026 due to rising fuel costs.

✅ **Business:** **76¢ per mile**

If you use your personal vehicle for business, be sure to keep accurate mileage records to maximize your tax deduction.

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Key Tax Dates to Keep in Mind:

1. September 15, 2026 - Extended Partnerships and S-Corp Returns Due

2. September 15, 2026 - Third Quarter 2026 Estimates Due

3. October 15, 2026 - Extended Individual Returns Due

Quick reminder as the year starts: if you use your vehicle for business, this is a great time to begin tracking your mileage—don’t wait until December to guess your miles 😅
Best practice is to track business trips consistently and include date + miles + destination + purpose. Easy habit now = smoother tax time later. ✅

Fechas Clave
• 15 de enero – Pagos estimados (4.º trimestre)
• 31 de enero – 1099 y nómina
• 15 de marzo – S-Corp y Partnerships
• 15 de abril – Impuestos individuales
• 15 de mayo – Organizaciones exentas (nonprofits/iglesias)

Key Dates to Remember:

January 15 – Fourth-quarter estimated tax payments
January 31 – 1099 filings and payroll filings
March 15 – S-Corporation and Partnership tax returns
April 15 – Individual tax returns
May 15 – Exempt organization tax returns (nonprofits/churches)

As we approach the end of the year, this is a good time to:
- Make any planned business purchases
- Ensure mileage and expenses are up to date
- Gather receipts and tax documents
- Prepare contractor information for upcoming 1099s

Taking care of these items now can help avoid delays during tax season.

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Thank you to our clients and associates for your continued support. We’re grateful for you. Happy Thanksgiving!

We’re honored to be part of this impactful event focused on inspiring and supporting the next generation of leaders in our community.

https://www.facebook.com/share/p/19ewHU295W/

🙌 almost here

Happy father days to all our dads out there!
Feliz día del padre para todos los padres!

Toro’s Accounting.

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