A R Santoro Consulting, LLC

November 29, 2007

2008 Standard Mileage Rates Released

The IRS issued Rev. Proc. 2007-70 with the 2008 optional standard mileage rates used for calculating the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning January 1, 2008, the standard mileage rates for the use of a car (including vans, pickups, or panel trucks) will be:

•50.5 cents per mile for business miles driven;

•19 cents per mile driven for medical or moving purposes; and

•14 cents per mile driven in service of charitable organizations.

The full text of Rev. Proc. 2007-70

ANTHONY R SANTORO is a former Internal Revenue Service (IRS) Revenue Agent with 33 years experience in the Internal Service Examination and Audit Division. He served as an Appeals Officer where he was responsible for the disposition and final settlement of tax disputes through negotiation and mediation. Tony developed extensive knowledge of IRS policies, procedures, and tax law including being involved with more than 3,500 taxpayer cases while with the IRS. Tony also hosted a weekly radio program “Your Federal Income Tax” on WJIZ Radio from 1977 – 1979 and assisted minorities and lower income individuals with tax returns underthe Vita Program.

Since leaving the IRS, Tony earned the qualification of Enrolled Agent, which is a License to practice nationwide before the IRS, and he has been a member of the National Association of Tax Professionals since 2006.

Mr. Santoro is a graduate of Saint Joseph's University in Philadelphia, Pennsylvania with a BS in Accounting. He received his Master in Taxation from Widener University, Chester, Pennsylvania.