What are the standard mileage rates?
A.7. The optional standard mileage rates are used by taxpayers not wanting to track actual vehicle expenses for vehicles used for business, medical, moving or charitable purposes. For 2008, the business rate is 50.5 cents per mile from 1/1/08 through 6/30/08 and 58.5 cents per mile from 7/1/08 through 12/31/08. The medical and moving rate is 19 cents per mile from 1/1/08 through 6/30/08 and 27 cents per mile from 7/1/08 through 12/31/08. The charitable rate is 14 cents per mile for the whole year. Each year (or more frequently if the conditions warrant), the I.R.S. adjusts the business, medical, and moving rates based on a study of the fixed and variable costs of operating an automobile; the charitable mileage rate is set by Congress. Even when using the standard mileage rates, you are still permitted to deduct actual parking fees and toll charges as incurred.
