The Internal Revenue Service (IRS) has announced the 2007
optional standard mileage rates for calculating deductible
Effective Jan. 1, the standard mileage rate for the use of a
car, van, pickup truck or panel truck is 48.5 cents per mile driven
for business purposes, an increase of 4 cents per mile from the
2006 rate. The standard mileage rate is 20 cents per mile driven
for medical or moving purposes and 14 cents per mile driven in
service to a charitable organization.
Higher prices for vehicles and fuel are cited as the primary
reasons for the...
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