The IRS announced that the mileage rate for business use of a vehicle will increase to 50.5¢ per mile for 2008. This is just a two cent increase from 2007.
For moving and medical expenses, you can use a mileage rate of 19¢ in 2008. This is actually a one penny drop from 2007. Apparently there are special, cheaper gas stations you can use when moving or heading to the hospital.
And since the rate is set by statute, the charitable mileage rate of 14¢ remains another year.
