IRS Sets 2008 Mileage Rates


Categories
Income Tax

Beginning Jan. 1, 2008, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be:

50.5 cents per mile for business miles driven;
19 cents per mile driven for medical or moving purposes; and
14 cents per mile driven in service of charitable organizations.

This represents a 2 cent increase for business miles, and 1 cent decrease for medical/moving.  Doesn’t make sense to me to have a decrease, given gas prices!
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