I have a small business as a performing artist, and I use my car for personal and business purposes. Since I use it for my job, is it possible to deduct my insurance from my taxes?
, you can deduct some of your car insurance from your taxes.
You need to look at when you use your car for business versus when you use it for personal reasons.
To do this, divvy up the mileage and come up with the percentage for each. If it’s about equal, say you use your car 50% of the time for your performing arts business and 50% for personal use, then you’ll apply 50% of your expenses.
If you are self-employed, you’ll want to file a Schedule C with this information. If not, then use a Form 2106.
Taxes can be confusing, but your car insurance shouldn’t be. If you want to see if you can get a better deal, make sure to check out the
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