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December 2007
STANDARD MILEAGE RATES INCREASED
The IRS has just announced that the standard mileage rates have been increased effective January 1, 2007. The new rates are as follows:
- Business miles – 48.5 cents per mile
- Medical and moving miles – 20 cents per mile
- Mileage for services to charities remains at 14 cents per mile (This rate is established by Congress.)
If you have any questions on the new mileage rates, please contact our tax department at (415) 781-2500.
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