Auto mileage deduction increases for 2008
High gasoline prices are once again fueling an increase in the mileage allowance for business use of a vehicle.  For 2008 it has risen to 50.5 cents per mile, from 2007’s 48.5 cents per mile.  The rate for using your car for charity stays at 14 cents per mile, as set by law. The rate for use of a car for deductible medical reasons and for determining moving expenses is 20 cents per mile for 2008. 
© 2007, Real Estate Information Services, Capitol Assets, Choice Real Estate, Inc. & Choice Finance®

Also see mid-year Housing Market outlook, june 2008