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Current Standard Mileage Rate |
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IRS Tax Regulations
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Page 1 of 3 2008 Mileage Rates The IRS issued Rev. Proc. 2007-70 with the 2008 optional standard mileage rates used for calculating 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; and 14 cents per mile driven in service of charitable organizations.
If fuel prices continue to rise along with oil prices, Congress may approve a mid year increase in the mileage rate as it did in 2005. Check back with us for the latest available rate updates from the IRS. 2007 Mileage Rates 48.5 cents per mile for business miles driven 20 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations
2006 Mileage Rates 44.5 cents per mile for business miles driven 18 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations
For additional information see the December 2005 MileageBooks.com eletter posted on this web site. IRS Raises Mileage Rate to 48.5 Cents For Remainder of 2005! 2005 Standard Mileage Rates Announced by IRS
The IRS has announced the rates for mileage expense deductions beginning January 1, 2005. The new standard business mileage rate will be 40.5 cents. Click on the "Next" link for other specific rules regarding the standard mileage rate and for rates approved for previous tax years.
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Friday, May 09 2008
