2008 STANDARD MILEAGE RATES

2008 Standard Mileage Rates and Employee Reimbursement Rules

The IRS has released the 2008 optional standard mileage rates that may be used by employees, self-employed individuals, and other taxpayers when computing the deductible costs of operating an automobile (including cars, vans, pickups or panel trucks) for business, medical, moving or charitable purposes.  Rev. Proc. 2006-49.

Business Mileage Rate

For 2008, the standard rate for business mileage is 50.5 cents per mile.