IRS Updated Mileage Rates for 2008

The Internal Revenue Service issued the 2008 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning July 1, 2008, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be: 58.5 cents per mile for business miles driven; 27 cents per mile driven for medical or moving purposes; and 14 cents per mile driven in service of charitable organizations.