Standard Mileage Rate Going Up in 2008

The IRS just announced that the standard mileage rate will be 50.5 cents per mile in 2008.  This is up from 48.5 cents per mile in 2007.

If you’re not keeping track of your mileage, you need to start now!  These rates are higher than we’ve ever seen, so you should be keeping track of every business mile driven.

You can use a spiral notebook to keep track of miles, you can purchase a mileage log from any office supply store, or you can use my own mileage log, found here.

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Related Posts:

• Standard Mileage Rates To Go Down In 2010
• IRS Announces Mileage Rates for 2009
• IRS Increases Mileage Rates For the Remainder of 2008