Monday, December 31, 2007

The cost of transportation

How much does your chosen mode of transportation cost?

I got the memo last Friday:

Effective January 1, 2008, the mileage reimbursement rate for the use of personal cars in conjunction with company business will be increased to 50.5¢ per mile, up from the current 48.5¢. The new rate is consistent with the maximum standard mileage rate currently authorized by the IRS.

Of course, the cost for using your car for personal business is about the same, but you don't get reimbursed. You just write out the checks... for gas, and for car payments, tires, repair expenses, parking, insurance, etc., etc.

DANG I'm glad I ride a bike!!! (No information from the IRS on bike expenses yet, for 2008. Must mean they are staying about the same.)