IRS Announces 2008 Standard Mileage Rates

Posted on 05. Dec, 2007 by Linda in Misc. Articles

The Internal Revenue Service has issued the 2008 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning January 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
• 14 cents per mile driven in service of charitable organizations