Mileage reimbursement rate to increase for remainder of 2008
Posted by Linda Fulps
The IRS has announced an increase in the optional standard mileage rate for operating a personal vehicle for business purposes from 50.5 cents per mile to 58.5 cents per mile for the final six months of 2008. The change will be effective for business travel that takes place on or after July 1 through Dec. 31. The IRS made this special adjustment in recognition of recent gasoline price increases and typically updates mileage rates once a year in the fall for the next calendar year. If you have any questions, contact Accounting/Fiscal Services at 341-4189.
Posted by Linda Fulps
