Tax Filing

The Internal Revenue Service has increased the optional standard mileage rate for business use of automobiles for 2026. Optional standard mileage rates are used to calculate the deductible costs of operating vehicles for business, charitable, and medical purposes.

Last week, the IRS announced that the limit individuals can contribute to their 401(k)s has increased for 2026 from $23,500 to $24,500. The limit on annual contributions to an IRA is increased to $7,500 from $7,000.

As tax documents start showing up in mailboxes across southwest Florida we thought it was time to bring in a couple of experts to help listeners out.…