Wayne Brasch Posted November 27, 2007 Report Share Posted November 27, 2007 The Internal Revenue GuideWire to which I subscribe announced today that Revenue Procedure 2007-70 contains the standard mileage rates for 2008: http://www.irs.gov/pub/irs-drop/rp-07-70.pdf. Wayne Quote Link to comment Share on other sites More sharing options...
Taxcure Services Posted November 28, 2007 Report Share Posted November 28, 2007 The Internal Revenue GuideWire to which I subscribe announced today that Revenue Procedure 2007-70 contains the standard mileage rates for 2008: http://www.irs.gov/pub/irs-drop/rp-07-70.pdf. Wayne Thanks for help and update.-soji Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted November 28, 2007 Report Share Posted November 28, 2007 Thanx Wayne. taxbilly Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted November 28, 2007 Report Share Posted November 28, 2007 Can anyone explain to me the reason the business mileage rate increased from 48.5 to 50.5 for 2008, and yet the medical/moving rate decreased from 20 to 19 cents? I understand it takes an act of Congress (literally) to change the charitable rate, but why would medical/moving go down? Quote Link to comment Share on other sites More sharing options...
Lion EA Posted November 29, 2007 Report Share Posted November 29, 2007 From the IRS post: The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile; the standard rate for medical and moving purposes is based on the variable costs as determined by the same study. Runzheimer International, an independent contractor, conducted the study for the IRS. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.