In reponse to the run up in gas prices, the IRS announced a mid-year change in the allowable mileage rates. So the rates for 2008 are as follows cents per mile:
July 1 - December 31, 2008
Business 58.5
Charitable 14
Medical and moving 27
Source: IR-2008-82
January 1 - June 30, 2008
Business 50.5
Charitable 14
Medical and moving 19
Source: IR-2007-192
For IRS insight into business travel and auto expenses see: The Cost of Doing Business: Organize Travel and Business Expense
Saturday, December 13, 2008
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