IRS Raises Mileage Allowances

Deductible mileage rates will increase for mileage incurred in the last half of 2008 the IRS announced yesterday. Specifically:

Deductible business mileage: $0.58/mi
Deductible medical/moving expense mileage: $0.27/mi

Charitable mileage deduction, set by statute, remains: $0.14/mi