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PostHeaderIcon IRS Announces New Mileage Rates Effective 7/1/08

Read all the skinny in the IRS newsroom, here.

The short and sweet? Mileage rates for business or moving/medical are each going up $0.08/mile, effective July 1st.

Charities?

Well, I’m thinking it’s obvious the government doesn’t give a fig about how people are giving less money in lean times and more time. And gee, wouldn’t it be nice to reward those people giving their time and using their own liquid gold gasoline to do it? Apparently not.

New business mileage rate is $0.585/mile; medical-moving will be $0.27/mile; charity, well, it’s still a chinchy $0.14/mile.

One Response to “IRS Announces New Mileage Rates Effective 7/1/08”

  • kevin says:

    For any of your readers who want a simple way to track mileage expenses, you might want to check out http://paybackable.com – it automatically calculates mileage expenses using the current IRS rates. Just enter the date of travel, a brief description and the number of miles driven – Paybackable does the rest, even when rates change. There’s a free plan for individuals and a 30-days free trial for companies with multiple users. It sure beats having to keep track of these rate changes:-)

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