By the Way . . .
IRS Increases Business Mileage Rate by 2˘. The Internal Revenue Service has announced that, beginning January 1, 2008, the standard mileage reimbursement rates for the use of a car (including vans, pickups, or panel trucks) will be 50.5˘ per mile for business miles driven. The new rate for business miles compares to a rate of 48.5˘ per mile for 2007.