IRS Issues New Mileage Rates

Effective January 1, 2009 the standard mileage rates will be:

55 cents/mile for business miles
24 cents/mile for medical miles driven
14 cents/mile driven in services of charitable organizations

Medical mileage and mileage connected with charitable organizations can be taken as itemized deductions on Federal Schedule A for taxpayers who elect to itemize.

See IRS Revenue Procedure 2008-72 for more details at http://www.irs.gov/pub/irs-drop/rp-08-72.pdf