The Internal Revenue Service offers updated optional standard mileage rates, used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning January 1, 2008, the standard mileage rates for the use of a car (including vans, pickups, and panel trucks) will be:
- 50.5 cents per mile for business miles driven
- 19 cents per mile driven for medical or moving purposes
- 14 cents per mile driven in service of charitable organizations The new rate for business miles compares to a rate of 48.5 cents per mile for 2007.
The new rate for medical and moving purposes compares to 20 cents in 2007. The rate for miles driven in service of charitable organizations has remained the same.
