IRS Raises Mileage Rate to 58.5 cents per mile Effective July 1

For those of you with business travel...
The IRS just announced an increase in the mileage reimbursement rate to 58.5 cents per mile effective July 1, 2008 through December 31, 2008. This in large part due to the increase in gas prices but it is also influenced by increases in insurance costs and other variable costs (repairs, etc.).

IRS Increases Mileage Rates through Dec. 31, 2008