2007 Business Mileage Rate

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  • cpeters
    Junior Member
    • Dec 2005
    • 19
    #1

    2007 Business Mileage Rate

    I thought I had read a message that the IRS had raised the business mileage rate from 48.5 cents per mile to 50.5 cents per mile for year 2007. Would someone please confirm if it's wishful thinking or that I'm dreaming. Thanks.
    Tags: None
    • Bees Knees
      Senior Member
      • May 2005
      • 5456
      #2
      TTB, page 1-2, the 50.5¢ rate applies for 2008. The 48.5¢ rate applies for 2007. Nothing has changed.

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