2008 STANDARD MILEAGE RATE: 50.5 CENTS

November 27th, 2007 by Joe Kristan

The IRS today issued (Rev. Proc. 2007-70) the standard mileage rates for business, charitable and medical travel in 2008. The rates:
Business: 50.5 cents per mile (2007 rate: 48.5)
Charitable: 14 cents per mile (unchanged from 2007)
Medical and moving: 19 cents per mile (2007 rate: 20 cents)
Link: IRS summary of business auto deduction rules

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