Regular-grade gas stood at $4.27 a gallon in town this morning, and this past weekend I logged about 220 miles driving to different photography assignments. While I'm happy to have the business, these hits at the gas pump are having an impact on me. In fact, business owners everywhere from all fields are feeling the pinch. Some more than others.

Fortunately, partial relief for businesses (even little guys like me) comes in the form of tax write-offs. For business tax purposes, drivers are allowed to deduct 50.5 cents for every mile driven. The IRS increased the rate for 2008 from 48.5 cents per mile. With this rate, that means I can write off up to $111 for this past weekend! I did some research online, and it turns out there are other ways you can be compensated for mileage. According to the IRS, you can write off mileage costs for medical or moving purposes (19 cents per mile), and in service of charitable organizations (14 cents per mile). If you have more specific questions about writing off mileage with these rates, check out this full IRS report.

So the next time you're having to move, relocate for work, or are helping out your favorite charity, save your gas receipts. Every little bit helps you spend less money.

-- Peter