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The rate will increase to 58.5 cents a mile for all business miles driven from July 1, 2008, through Dec. 31, 2008. This is an increase of eight (8) cents from the 50.5 cent rate in effect for the first six months of 2008, as set forth in Rev. Proc. 2007-70.
Beginning Jan. 1, 2008, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be: 50.5 cents per mile for business miles driven; 19 cents per mile driven for medical or moving purposes; and. 14 cents per mile driven in service of charitable organizations.
27 lis 2007 · The standard mileage rate for transportation expenses is 50.5 cents per mile for all miles of use for business purposes..02 Use of the business standard mileage rate. A taxpayer may use the business standard mileage rate with respect to an automobile that is either owned or leased by the taxpayer.
16 lut 2024 · The Internal Revenue Service (IRS) provides standard mileage rates as optional methods for taxpayers to substantiate their transportation expenses. This Insight reviews how the standard mileage rates are set, who uses them, and a history of the rates.
24 lis 2023 · The IRS press release announced that “on January 1 2008, the standard mileage rates for using a car (including vans, pickups or panel trucks) will be 50.5 cents per mile for business miles driven.”
The standard mileage rates for 2023 are: Self-employed and business: 65.5 cents/mile. Charities: 14 cents/mile. Medical: 22 cents/mile. Moving ( military only ): 22 cents/mile. Find out when you can deduct vehicle mileage.
The IRS has announced (Announcement 2008-63) an increase between July 1, 2008, and December 31, 2008, in the optional standard mileage rates used to compute
