[LCFinance] IRS Mileage Rate Increase

[Christine Dodson]

Please be advised of yesterday's announcement from the IRS regarding an
increase in the business mileage rate for miles driven after July 1,
2008.  Let us know if you have questions.

Due to rising gas prices, the mileage rate will increase by eight cents
to 58.5 cents a mile for all business miles driven from July 1 through
Dec. 31, 2008. The new rate for computing deductible medical or moving
expenses will also increase by eight cents to 27 cents a mile. The rate
for providing services for charitable organizations is set by statute,
not the IRS, and remains at 14 cents a mile. See news release IR-2008-82
<http://www.irs.gov/newsroom/article/0,,id=184163,00.html>  and
Announcement 2008-63 <http://www.irs.gov/pub/irs-drop/a-08-63.pdf> . 

 

Christine

 

 

Christine Dodson, CPA, MBA

Conference Treasurer

NC Conference/United Methodist Church

(919) 832-9560

 


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