Serves the Commercial Small Fleet Market of 10 – 50 Vehicles

IRS Sets 2007 Mileage Rates

November 8, 2006

The Internal Revenue Service is increasing the mileage rates for 2007 for calculating the deductible costs of operating an automobile for business, charitable, medical or moving purposes, as follows: 48.5 cents per mile for business miles driven, up from the 2006 rate of 44.5 cents per mile. 20 cents per mile driven for medical or moving miles driven, up from 18 cents per mile in 2006. 14 cents per mile driven in service to charitable organizations.The increases in mileage rates for business, moving and medical purposes were attributed to increased fuel and vehicle costs.The rates are based on an annual study of the costs of operating a vehicle conducted by Runzheimer International.
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