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
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
21 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
22 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
1 Day ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
1 Day ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
1 Day ago
150x172_Sign up for election newsUnite for Good Share your Stories100 Million CU Memberships