IRS Increases Mileage Reimbursement

Woohoo!

The Internal Revenue Service will increase by 8 cents the standard amount that can be deducted for driving for business, medical and moving expenses.

The new rates of 58.5 cents for business driving and 27 cents for medical or moving driving will go into effect July 1 and last six months.

1. There is a exciting new business tool provided by http://www.MileageLogger.com that logs business miles automatically, no more pen and paper.

   Posted by taxguru on June 26, 2008 at 2004 hrs