Business, Medical, Charity – IRS Mileage rates increase July 1, 2008

I have new 2008 tax information for those of you who travel, whether for business, medical, moving or charity. The IRS is increasing the mileage rates through Dec. 31, 2008. Mileage rates are increasing July 1st as follows:

Mileage Rate Changes

Purpose

Rates 1/1 through 6/30/08

Rates 7/1 through 12/31/08

Business

50.5

58.5

Medical/Moving

19

27

Charitable

14

14

This will definitely help at tax time.

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