IRS changes mileage rates

Posted on June 25, 2008 by Ed

Thanks to Michelle Gallagher for the following information:

2008 MILEAGE RATE CHANGES
 
Purpose            Rates 1/1 - 6/30           Rates 7/1-12/31
 
Business                         50.5                               58.5
 
Medical/Moving                 19                                  27
 
Charitable                        14                                  14


This is the first time in my memory that the IRS is reasonably current with today's economic realities!  <g>   If you have to go 10 miles to the grocery store, the IRS believes it will cost you $5.85 for the trip! All the more reason to ride a bike or shop more locally ...  How has your life been impacted by "Big Oil"?

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tim hendricks - July 13, 2008 11:38 PM

does your job have to pay you 58.5 cents a mile when you use you own car for work? mine only pays me 48.5 cents per mile!!!

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