IRS Announces 2008 Standard Mileage Rates

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Fri Nov 30, 2007, 02:05pm

bob jenkins bob jenkins is online now

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Quote:

Originally Posted by Rizzo21

Considering FICA, Fed. and State savings from that deduction and the fact that I get about 30mpg, it basically pays for my gas (but not wear and tear) at the current pump price. I'll take it.

Oh, please.

At $3.00 / gallon at 30 MPG, your gas costs $0.10 / mile. Even if you pay $4.50 / gallon, that's still only $0.15 / mile. There's a lot to cover "wear and tear" and insurance and depreciation.

(I'm not saying that $0.505 covers it all; but it covers more than just gas)

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