IRS Announces 2008 Standard Mileage Rates

The IRS has announced the optional standard mileage rates used in computing the deductible costs paid or incurred on or after January 1, 2008, for operating an automobile for business, charitable, medical, or moving purposes:

Business      50.5 cents per mile

Charitable contribution    14 cents per mile

Medical and moving    19 cents per mile

 

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