Business Tax Relief for 2008

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.

The new rate for business miles compares to a rate of 48.5 cents per mile for 2007. The business miles rate was increased two cents, the medical and moving purposes was reduced one cent, and the rate for miles driven in service of charitable organizations has remained the same.

(Source: IRS)