Mileage Deduction Increase

Some good news from (of all places) the IRS !!  Following is cut/pasted from the current IRS small business newsletter:

Mileage rates increased July 1 - Dec. 31
The optional standard mileage rates for business, medical and moving expenses increase by eight cents per mile starting July 1.

Business rates increase from 50.5 cents to 58.5 cents per mile. IR-2008-82  has more information
 

Frank Salowitz, ePro, GRI
Shauf Realty, Dyersburg, TN  731-676-1841  TennRW@usa.net

Reply

Well that is certainly welcome news...particularly considering the price of gas.

Thanks for sharing,

Joann Burns

Reply

Thanks so much for the update.  I will share this with all our agents.  May bring a little smile to their faces.

Reply