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Standard mileage rates decrease

Standard mileage rates decrease

Posted: Tuesday, December 16, 2008 1:07 pm

The IRS announced that the 2009 standard mileage rates will decrease from the second half of 2008. Beginning Jan. 1, 2009, the standard business mileage rate will be 55 cents per mile, the standard medical or moving mileage rate will be 24 cents per mile, and the standard charitable rate will be 14 cents per mile. By way of comparison, for the first six months of 2008, the rates were 50.5 cents per mile, 19 cents per mile and 14 cents per mile, respectively, while for the last six months of 2008, the rates were 58.5 cents per mile, 27 cents per mile and 14 cents per mile. (Rev. Proc. 2008-72, 2008-50 IRB) wcp 12-16-08

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