Smith & Hinckley, P.C.

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Mileage allowance for  2007 and 2008

 

IRS has modified in Rev Proc 2007-70 that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) for 2008 business, charitable, and medical travel.  The following table summarizes the mileage allowances for 2007 and 2008. 

2007 2008
Business Rate 48.5 50.50
Charitable  14.0 14.0
Medical and Moving 20.0 19.0