Employers: IRS announces 2008 mileage rate

The Internal Revenue Service recently announced that the maximum mileage rate used to reimburse or calculate the deductible costs of operating a vehicle for business as of January 1, 2008 will be 50.5¢ per mile. We've always reimbursed at the federal rate here at the office, which now means, for example, that paying staff for a trip to file something at the Clark County Courthouse will cost me $75.75. Here's the news release.