2008 Mileage Rate
The IRS has announced that beginning January 1, 2008 that the standard mileage rate for business use of a personal car/van/pickup/or panel trucks will be 50.5 cents per mile.
The standard mileage rate is affixed annually based upon a study of the variable and fixed costs of the annual cost of operating a vehicle. The 2008 rate for moving or medical expenses will be 19 cents per mile and 14 cents per mile driven when doing work for charitable organizations. The 2008 mileage rate of 50.5 cents per mile is up from the 2007 rate pf 48.5 cents per mile.
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