Lily Tran Tax

Lily Tran Tax Best of Kent 🏆🏆🏆🏆

07/15/2026

The IRS changed the standard mileage rate in the middle of 2026. This is a rare mid-year adjustment due to higher fuel costs.

Business Mileage Rates
January 1 – June 30: 72.5¢ per mile
July 1 – December 31: 76¢ per mile

Medical and moving mileage also increased from 20.5¢ to 23.5¢ per mile, while the charitable mileage rate remains 14¢ per mile.

Why it matters:
For 2026, you can't simply multiply your total annual business miles by one rate. Your mileage must be split between the first and second half of the year to calculate the correct deduction.

If you use your vehicle for business and didn't record your odometer reading on June 30, record your current odometer reading today for each business vehicle. This creates a helpful reference point for accurately allocating your business mileage for the year.

​Thank you to our friend, John Sheeley, EA, for highlighting this important IRS update. It's an easy detail to overlook, but it could make a difference at tax time.

06/18/2026

📣 Tomorrow I'm hosting a LIVE Q&A: Your Accounting Software Questions Answered!

This session is entirely driven by your questions.

Whether you're struggling with QuickBooks, Xero, Wave, bookkeeping workflows, reconciliations, chart of accounts, or accounting software setup, bring your questions and I'll answer them live.

If you're not already a member of our free community, visit our website to join and get access to the Q&A.

I look forward to seeing you there and helping you get the answers you need!

05/27/2026

I’m hosting a free Startup Bookkeeping Support virtual event on Wednesday, June 10th at 10 AM.

Choosing the Right Accounting Tool for Your Business

Not all accounting systems are created equal and the best one depends on your business needs, budget, and workflow. Join us as we explore popular tools like QuickBooks, Xero, Zoho Books, FreshBooks, Wave, and even Excel/Google Sheets to help you find the right fit.

Learn the pros, features, and ideal use cases for each platform so you can simplify bookkeeping, stay organized, and gain better control of your finances.

The best system is the one you’ll actually use consistently.

If you’re interested in joining, comment below or send me a message, and I’ll send you the link to join.

05/07/2026

I’m excited to share that I’m launching a new group coaching program for taxpayers and solopreneurs.

If you’re interested in learning more, send us your email address and I’ll add you to our free community. It’s a great space to connect with local members and professionals, plus you’ll get updates on all upcoming announcements.

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112 Railroad Avenue S
Kent, WA
98032

Opening Hours

Monday 10am - 6pm
Tuesday 10am - 6pm
Wednesday 10am - 6pm
Thursday 10am - 6pm

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