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IRS adjusts standard mileage rates

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in Small Business Tax

The IRS recently announced new standard mileage rates for 2009. (IRS Revenue Procedure 2008-72)

The rates are higher than those initially set a year ago—including 55 cents a mile for business driving in 2009—but lower than the midyear adjustment in 2008.

Note: The rate for charitable driving, which is set by statute, remains at 14 cents per mile.

Standard mileage rates:

Travel expense
Jan. 1-June 30 2008
July 1-Dec. 31 2008
2009
Business
50.5 cents per mile
58.5 cents per mile
55 cents per mile
Medical
19 cents per mile
27 cents per mile
24 cents per mile
Job-related moving
19 cents per mile
27 cents per mile
24 cents per mile

 

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