Expert Advice for Taxes

All Articles on Taxes

2022 Audi e-tron Tax Credit Eligibility
Thanks to the Inflation Reduction Act of 2022, the 2022 Audi e-tron lost its tax credit eligibility on August 16, 2022.
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Pat Roache
Volvo XC90 Recharge Tax Credit Eligibility
The 2023 Volvo XC90 Recharge is now eligible for the maximum $7,500 tax credit! Learn how it achieved this status and how to apply for it here.
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Drew Waterstreet
Polestar 2 Tax Credit Eligibility
The Polestar 2 is no longer eligible for federal tax credits, as mandated by the August 2022 Inflation Reduction Act.
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Cameron Thiessen
Kia EV6 Tax Credit Eligibility
The Kia EV6 is no longer eligible for a federal tax credit from the IRS, as conditions for eligibility changed in 2022.
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Kathryn Mae Kurlychek
Volvo XC60 Recharge Tax Credit Eligibility
The Volvo XC60 Recharge is no longer eligible for federal tax credits per the 2022 Inflation Reduction Act. Here’s what to know.
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Claire Beaney
Cadillac Lyriq Tax Credit Eligibility
Purchasing the Cadillac Lyriq will not qualify you for the $7,500 federal tax credit for electric vehicles. Click here to find out why.
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Alita Dark
Hyundai Tucson Plug-in Hybrid Tax Credit Eligibility
The Hyundai Tucson plug-in hybrid is no longer eligible for federal tax credits for the time being, but that could change later on if it meets new requirements.
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Melanie Krieps Mergen
Chrysler Pacifica Hybrid Tax Credit Eligibility
The Chrysler Pacifica Hybrid still qualifies for an EV federal tax credit, despite the strict restrictions placed on auto manufacturers by the Inflation Reduction Act.
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Liz Jenson
2021 Toyota Camry Hybrid Tax Credit Eligibility
The 2021 Toyota Camry Hybrid is not eligible for any federal tax credits.
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Amber Reed
Kia Sorento Plug In Hybrid Tax Credit Eligibility
The 2022 Inflation Reduction Act has removed the Kia Sorento from eligibility for PHEV federal tax credits, but you may take advantage of other perks.
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Jaya Anandjit
Volkswagen ID.4 Tax Credit Eligibility
The VW ID.4 only qualifies for half the federal EV tax credit. Here’s what to know.
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Abbey Orzech
Toyota Camry Hybrid Tax Credit Eligibility
The Toyota Camry Hybrid is not eligible for the latest EV federal tax credit, but it may still be worth considering for some drivers.
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Meaghan Branham
Toyota Sienna Tax Credit Eligibility
As a hybrid vehicle, the Toyota Sienna is not eligible for federal tax credits under the August 2022 Inflation Reduction Act.
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Jason Tushinski
2021 Toyota Highlander Hybrid Tax Credit Eligibility
As the Toyota Highlander Hybrid still uses a combustion engine, it is not eligible for federal tax credits. Here are some other options!
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Brittni Brinn
Jeep Wrangler 4xe Prime Tax Credit Eligibility
The Jeep Wrangler 4xe is one of the plug-in hybrids eligible for up to $7,500 in federal tax credit.
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Abbey Orzech
Ford Maverick Tax Credit Eligibility
As the 2023 Ford Maverick is only a hybrid, it won’t be eligible for the federal tax credit for electric vehicle owners.
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Brittni Brinn
Toyota Prius Prime Tax Credit Eligibility
The Toyota Prius Prime is not eligible for federal tax credits, as it does not meet the requirements of the Inflation Reduction Act of August 2022.
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Amber Reed
How to Pay Your Louisiana Excise Tax
Louisiana may not charge an excise tax on vehicles, but the state does require payment of title and registration fees—which is, in many ways, the same thing.
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Liz Jenson
Rivian Tax Credit Eligibility
Buyers hoping to take advantage of the $7,500 federal tax credit on their Rivian EV had better act fast—January updates will render them ineligible.
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Sarah Gray
Hyundai Ioniq 5 Tax Credit Eligibility
The Hyundai Ioniq 5 is no longer eligible for a federal tax credit, but new owners may still qualify for local tax incentives or rebates.
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Brittni Brinn
How to Pay Your Colorado Excise Tax
Colorado’s Specific Ownership Tax is collected yearly by taxing the static, taxable value (85%) of a vehicle’s MSRP. The tax rate changes yearly.
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Jason Tushinski
How to Pay Your North Dakota Excise Tax
North Dakota excise tax for motor vehicles is 5% of the fair market value of the vehicle. Here’s what to know.
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David Ghanizadeh-Khoob
How to Pay Your South Carolina Excise Tax
South Carolina charges $25 for every $1,000 of your vehicle’s value each year as an excise tax.
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Kara Vanderbeek
How to Pay Your New Hampshire Excise Tax
New Hampshire doesn’t charge a state sales tax on new vehicles, but they do charge an annual tax rate of $18/$1,000 of the list price.
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Andrea Barrett
Kia Niro Tax Credit Eligibility
The Kia Niro is no longer eligible for federal tax credits, as mandated by the August 2022 Inflation Reduction Act.
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Cameron Thiessen
How to Pay Your Virginia Excise Tax
The Virginia Sales and Use Tax is either 4.15% of the vehicle’s gross sale price or $75, whichever is greater.
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Zachary Morgan
How to Pay Your New York Excise Tax
When buying a car in New York, you will pay a 4% sales tax rate for your new or used vehicle, in addition to county or local taxes of up to 4.5%.
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Jacqulyn Graber
How to Pay Your Arizona Excise Tax
Arizona’s excise tax is $2.80 for every $100 of your new vehicle’s value or $2.89 per $100 of a used vehicle’s value each year.
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Tiffany Leung
How To Pay Your South Dakota Excise Tax
South Dakota charges a 4% vehicle excise tax on every vehicle sold in the state. This tax is payable upon registering the car. Learn more here!
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Jason Tushinski
How To Pay Your Indiana Excise Tax
Indiana drivers must pay an annual vehicle excise tax that is determined based on the vehicle MSRP and the vehicle’s age, with a minimum of payment of $12.
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Jason Tushinski

All Questions on Taxes

Do I have to pay taxes on my home insurance settlements?
My home burned down earlier this year and I received a settlement from my home insurance company to rebuild it. I’m budgeting before we hire a general contractor. Do you have to pay taxes on home insurance settlements?
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Talullah Blanco
What vehicle expenses are tax-deductible?
I work as a freelancer, but I drive to work. Which vehicle expenses can I deduct from my taxes this year? I’m trying to save as much money as possible, but I also don’t want to get into trouble.
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Liz Jenson
Will I be taxed on positive equity of a car loan?
I’m looking to sell my vehicle to a dealership and I still have a loan on it. I know I will have positive equity on the loan and I’m looking to just take the money and not roll over into another loan. Will I be taxed on the money the dealership gives me for my vehicle?
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Emily Maracle
Can interest on a car loan be deducted from taxes?
I’m thinking of upgrading my car in part so I can be an Uber driver and make some extra money. Can interest on my new car loan be deducted from my taxes?
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Will Baldwin
How do car taxes work in Connecticut?
Am I supposed to pay a separate tax on my car every year? I live in Connecticut and this is my first car. I bought the car at the dealership and paid the tax on it there already.
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Shannon Martin
What do you do if your home insurance drops you?
I recently got notified that my home insurance company was canceling our policy because of too many water-related claims. What do you do if your home insurance drops you?
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Mercedes (Sadie) Lovemore
When you move but still live in the same state, do you have to change your address with the DMV?
Why do I have to change my address if I live in the same state? I live in Texas and moved to a new home about eight months ago. I never updated my address because it didn't seem important at the time. Last night, I was at a traffic stop and the officer said he would let me go with a warning but that I needed to change my license right away. Why does it matter that I haven't updated it?
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Shannon Martin
Is my renters insurance tax deductible?
I’ve been working at home all year. I’ve heard that you can deduct certain expenses from your taxes if you’re working from your home or apartment. Is this true? Is renters insurance tax deductible?
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Chloe Jenkins
Can a car loan get you a tax refund?
I want to maximize my tax refund this year to add to my down payment for a house. Can I get a tax refund from my car loan?
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Eric Schad
Can a car loan be tax deductible?
We recently expanded our mobile car maintenance business by buying a new truck. Can you deduct a vehicle’s loan from your taxes?
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Will Baldwin
Is buying a car a tax write-off?
I’m an independent contractor, and I bought a new car last year to help conduct my business more efficiently. Since I’m using it as a part of my job, can that come off my taxes? Is buying a car a tax write-off?
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Shannon Fitzgerald
Will I have to pay sales tax again in Texas for a new vehicle?
I purchased a vehicle from Georgia. I paid the sales tax for the vehicle and ended up having to return it for another vehicle. Will I have to pay another sales tax in Texas for the new vehicle?
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Emily Maracle
Can you buy a house if you owe taxes?
I've got tax debt that I’m working to pay off. I’m also hoping to buy a house soon. Can you buy a house if you owe taxes?
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Nick Kunze
Can I reduce my tax bill via a car loan?
I was thinking of getting a car loan anyways, but I wanted to know if it will reduce my tax liability. Would a car loan reduce my tax payment at all?
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Eric Schad
How do I deduct car insurance from my taxes?
I use my car for business. Is it possible to deduct my car insurance when doing my taxes? If so, how?
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Lauren Smith
Can I file my car loan on my taxes?
I've read about little hacks to save on your taxes and I found that you can write off mortgage interest. Can you do the same with car loan interest?
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Eric Schad
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?
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Will Baldwin
Is buying a car tax deductible?
I want to buy a car partially to use for my business. Will I be able to deduct this purchase from my taxes, or do I have to pay for it out of pocket?
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Liz Jenson
How does buying a car affect taxes?
I'm wondering if I can make any tax deductions with the purchase of my car. How does buying a car affect my taxes?
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Matthew Macgugan
Is home insurance tax deductible?
I’m in the process of filing my taxes. As a new homeowner, I’m hoping to claim some of the expenses I’ve incurred. Is homeowners insurance tax deductible?
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Mercedes (Sadie) Lovemore
How can I claim my car insurance on my taxes?
I'm filing my taxes. Are my car insurance premiums tax deductible? Would I be able to write them off?
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Emily Maracle
Can we claim car loan interest on taxes?
I just started driving for Lyft and am curious, can we claim car loan interest on taxes as Lyft drivers?
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Will Baldwin
How complicated is it to get a hardship license as a minor in Texas?
I am 16 years old and due to the driving age limit in Texas, I am not able to get a full-fledged driver's license yet. Since my dad was laid off from work, I work a part-time job to help out with the bills and stuff. My buddy just quit and I can't get a ride to work like I used to. I need to be able to drive myself and I don't want to do it illegally; is there any way for me to get a hardship license?
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Shannon Martin
Is home mortgage insurance tax deductible?
This is my first tax season as a homeowner. I’m not sure what I can and can’t claim for my home. Is home mortgage insurance tax deductible?
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Melanie Mergen
How can you legally avoid Virginia’s car tax?
I don’t like the idea of paying tax on my car just for owning it. At the same time, I don’t want to break the law. Is there any way to legally avoid Virginia’s car tax?
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Joshua Levy
Can I claim driving lessons on my taxes?
It seems like a long shot, but my son received school credit for his driving classes, so I thought they might be tax-deductible. Will I be able to claim driving lessons on my taxes?
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Liz Jenson
Can you deduct a car loan’s interest?
We’re expanding my tow truck business and adding a new truck. Is it possible to deduct the interest on the loan?
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Will Baldwin
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?
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Nick Kunze
Is home warranty insurance tax deductible?
I know some types of insurance are tax deductible. I currently have home warranty insurance and I’m wondering what my options for taxes are. Would home warranty insurance be tax deductible?
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Emily Maracle
How much does it cost to ship a car from Florida to Colombia?
I’m moving back with my family to Colombia. I bought a vehicle while I lived in Miami, and I want to take it home with me. How much does it cost to ship a car from Florida to Colombia?
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Matthew Macgugan

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