News Now

Consumer
Consumer brief (12/05/2007)
* SAN FRANCISCO (12/6/07)--High gasoline prices are pushing the standard Internal Revenue Service (IRS) mileage-rate deduction for business-related driving to a new all-time high in 2008: 50.5 cents a mile, up from 48.5 cents in 2007. Other variables affecting the rate increase include vehicle maintenance, repairs, registration and insurance. Remember that the standard mileage deduction only is for companies using four or fewer vehicles; other companies use the IRS standard as a benchmark to set their own reimbursement rates. If you plan to claim a deduction for medical or moving expenses, the rate--calculated differently than the rate for business driving--will drop to 19 cents a mile, from 20 cents a mile in 2007. And if you plan to claim a deduction for charitable-related driving, your rate will stay the same in 2008 at 14 cents a mile (http://www.marketwatch.com Nov. 27)…


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
1 Day ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 Day ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
1 Day ago
150x172_Annual Report 2013Unite for Good Share your Stories100 Million CU Memberships