Can you claim car loan payments on taxes?

I’m a professional dog walker with a pretty sizable loan on my vehicle. Can I claim car loan payments on taxes?

All that time with dogs—what a job! The short answer is yes, you can claim car loan payments on taxes.
If you have a car loan on a vehicle used for business purposes, the car loan interest and some vehicle expenses are able to be deducted when filing your taxes.
However, in order to do so, you will need to carefully document the percentage of time you drive the vehicle for business versus personal purposes and keep all receipts associated with car-related business expenses.
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Will Baldwin
Answered on Dec 02, 2021
Will Baldwin is a graduate of Ryerson’s School of Journalism with three years of experience writing and freelancing for multiple publications including The Globe and Mail. With a deep interest in geography, economics, and politics, he has come to be extremely interested in the relationship of personal finances and culture with the auto industry as one of the forefronts of his interest. When not writing, he’s an avid sports fan who splits his time between watching too much basketball and having his heartbroken by the New Orleans Saints. Will is based in Toronto, Ontario.

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