The Internal Revenue Service today
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 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.
The new IRS MILEAGE RATE
for business miles compares to a rate of 48.5 cents per mile for
2007. The new rate for medical and moving purposes compares to
20 cents in 2007. The rate for miles driven in service of
charitable organizations has remained the same.