IRS Mileage Rates
Below are the optional standard IRS mileage rates for 2008 to calculate the deductible costs for business, charitable, medical or moving purposes operating costs which includes cars, vans, pickups or panel trucks:
- 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.
2007 IRS mileage rates were 48.5 center/business miles, 20 cents/medical-moving miles and 14 cents/charitable miles (same as 2008). A study is done each year by an independent contractor (this year Runzheimer International) to determine the rate based on how much it costs (fixed and variable) to operate a vehicle.
You can keep track of your miles for business, moving, medical or charitable reasons accurately and easily with the Mileage Logger for your vehicle. You just plug it in and go, the logger takes cares of the rest. No more worries about manually keeping track of your mileage log. Audit, no problem. All miles are logged for taxes. It automatically calculates your miles and records your locations as you drive. Then the report is sent to your online account where you can add any comments or tags as you like. Right now they're running a special of $100 off until July 4th:
Mileage Logger is an Indispensable Tool for Accurate Mileage Reporting on your Taxes. VIEW DEMO
So be sure to accurately keep track of your miles for IRS mileage rates. At 50.5 cents/mile, every mile indeed counts, especially with today's gas prices.
Gas Savers - Tips to for Improve and get Better Gas Mileage
(also for tax irs gas mileage)