[LCFinance] IRS Mileage Rate Increase

[Buddy Foreman]

Thanks
  ----- Original Message ----- 
  From: Christine Dodson 
  To: Local Church Finance Committee and Treasurers 
  Sent: Tuesday, June 24, 2008 9:38 AM
  Subject: [LCFinance] IRS Mileage Rate Increase


  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 and Announcement 2008-63. 

   

  Christine

   

   

  Christine Dodson, CPA, MBA

  Conference Treasurer

  NC Conference/United Methodist Church

  (919) 832-9560

   


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