2008 Standard Mileage Rates
The IRS issued the 2008 standard mileage rates used to calculate the deductible costs of operating a vehicle for business, charitable, medical, or moving purposes.
Effective January 1, 2008, the standard mileage rates for the use of a car (including vans, pickups, or panel trucks) are:
- 50.5 cents per mile for business miles driven, compared to 48.5 cents per mile for 2007
- 19 cents per mile for medical or moving purposes, compared to 20 cents per mile in 2007
- 14 cents per mile for service to a charitable organization, which is set by law
Taxpayers can't use the business standard mileage rate if they:
- Claim accelerated (MACRS) depreciation or a Section 179 deduction for the vehicle
- Use the vehicle for hire (such as a taxi)
- Use more than four vehicles simultaneously (as in fleet operations).
For additional information on the 2008 standard mileage rates, access Revenue Procedure 2007-70 or contact us.
This notice is required by IRS Circular 230, which regulates written communications about federal tax matters between tax advisors and their clients. To the extent the preceding correspondence is a written tax advice communication, it is not a full “covered opinion.” Accordingly, this advice is not intended and cannot be used for the purpose of avoiding penalties that may be imposed by the IRS.