Standard Mileage Rate Decreases 3.5 Cents for 2009

The IRS announced that the optional mileage allowance for owned or leased autos (including vans, pickups or panel trucks) is 55 cents for business travel beginning in 2009. That’s 3.5 cents less than the 58.5 cents allowance for 2008 business travel from July - December.

In addition, beginning in 2009, the rate for using a car to get medical care or in connection with a move that qualifies for the moving expense deduction is 24 cents a mile. The mileage rate for driving an auto for charitable use during 2009 will remain unchanged at 14 cents per mile.

If you any questions, please contact a Winter, Kloman, Moter & Repp, S.C. representative. Contact the Brookfield office at 262-797-9050; the Oconomowoc office at 262-567-6540; or the Watertown office at 920-261-6767.