Tax Guru – Ker$tetter Letter

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Archive for November 27th, 2007

How far will IRS go to collect money?

Posted by taxguru on November 27, 2007

Courtesy of Freaking News

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2008 IRS Standard Mileage Rates

Posted by taxguru on November 27, 2007

IRS has officially released what it will allow for 2008 tax returns:

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.

As always, the official IRS statisticians are hip to the fact that vehicles being used for medical or charitable endeavors magically burn less fuel and suffer less wear and tear than they do when used for crass money making ventures. This disparity has never made sense in the past, and with the largest gap ever in these new rates, it continues to baffle me.

 

Posted in IRS, Vehicles | Comments Off on 2008 IRS Standard Mileage Rates