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Beginning January 1, 2009, the standard mileage rate, which is the amount employers may deduct for reimbursement to employees who use their own cars for company business, will be $.55 per mile.
The new rate, which the IRS uses to calculate the deductible costs of operating an automobile for business, is an decrease from the rate of $.585 per mile that was in effect during the second half of 2008.
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