What's the latest standard mileage rate the IRS allows?

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What's the latest standard mileage rate the IRS allows?

2007-12-20 08:44:31 · 3 answers · asked by shirleykins 7 in Business & Finance ➔ Taxes ➔ United States

3 answers

It's currently 48.5 cents per mile.

It is changing to 50.5 cents per mile on January 1, 2008.

2007-12-20 08:50:52 · answer #1 · answered by Hope 2 · 2⤊ 0⤋

The full business rate is 48.5 cents per mile for 2007. For 2008, it will increase to 50.5 cents per mile.

For charity, medical, and moving, the mileage rate is significantly reduced.

2007-12-20 18:37:38 · answer #2 · answered by Steve 6 · 0⤊ 0⤋

'07 is 48.5 cents mile.

2007-12-20 16:51:14 · answer #3 · answered by Anonymous · 1⤊ 0⤋