New Mileage Rates For 2009

Well the good news is the cost of a gallon of gas has gone down significantly since this past summer, but the bad news is the IRS knows this. Here are the newly released Standard Mileage Rates that go into effect on January 1, 2009.

• Standard business mileage rate will be $.55 per mile
• Standard medical and moving mileage rate will be $.24 per mile
• Standard charitable mileage rate will be $.14 per mile

Don't forget to update your expense reports in January.

Happy Thanksgiving!