How do I get a tax write-off for my car insurance?

I just bought my first car and am thinking ahead to tax season. How do I get a tax write-off for my car insurance?

Answer
You can’t write off your car insurance on your taxes unless it is a business expense. If your car insurance is for your personal vehicle then it cannot be written off, even if you use the vehicle to commute to work.
However, if you are self-employed and/or an independent contractor and the car is only used for business purposes, then you can probably write the insurance off as an expense, as long as you aren’t already being reimbursed by your employer. If your car is used for both personal and business purposes, you may be able to deduct a portion of your insurance costs.
There are other aspects of your vehicle that could be business expense write-offs, so always check with a tax professional to make sure you’re saving as much as possible. Examples include:
  • Miles driven
  • Fuel
  • Repairs
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georgina grant
Answered on Nov 08, 2021
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