What are the 2008 Mileage Rates?
The IRS has recently announced that the changes to the mileage rates for 2008.
1. Business miles
The standard mileage rates for a car used in a trade or business have jumped to 50.5 cents per mile representing 2 cent increase from 2007.
2. Medical miles
The mileage rate for a car used for driving for medical have dropped to 19 cents per mile representing 1 cent decrease from 2007.
3. Charity miles
The mileage rates for a car used in the service of a charitable or non-profit organization have remained unchanged from 2007 and stays at 14 cents per mile.