From Lenny's Desk
The Sturbridge Taxman's Blog

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Cormier & Rea announce additional office at 483 Summer St, Ste 2000, Arlington, MA

IRS Increases Mileage Rates

Categories Tax Tips (Fed)

Due to rising gas prices, the mileage rate will increase by eight cents to 58.5 cents a mile for all business miles driven from July 1 through Dec. 31, 2008. The new rate for computing deductible medical or moving expenses will also increase by eight cents to 27 cents a mile. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile.

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