Mileage News For 2009

IRS Mileage Rates – The optional standard mileage rates used to calculate the deductible costs of operating an automobile for business purposes is changing again at the end of 2008. Beginning January 1, 2009 the standard mileage rates for the use of a car (including vans, pickups and panel trucks) is 55 cents per mile, compared to 50.5 cents per mile for the first six months of 2008 and 58.5 cents for the balance of 2008. The mileage allowance is directly related to the cost of fuel and has changed due to the sudden decrease in gas costs in recent months.(Source: Internal Revenue Service)