Tax Question: How much is the IRS allowing for deductable mileage this year?
I have an accountant, but do a lot of preliminary work to save myself money. I make spreadsheets of my deductions. How much is the IRS allowing for deduction per mile this year?
Last year I believe it was .48 cents per mile for deductable mileage. What is it this year?
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Comments (2)
If ‘this year’ is 2007, $.485, if 2008, $.505
The rate for 2007 is 48.5¢ per mile. The rate for 2008 is 50.5¢ per mile.