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Standard Mileage Rate is 48.5 Cents.(Brief article)

Article from: The Practical Accountant | January 1, 2007 | Copyright

The IRS has issued the 2007 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes (IR-2006-168 and Rev. Proc. 2006-49). Beginning January 1, 2007, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) will be:

* 48.5 …

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