Expert Advice for Taxes

All Articles on Taxes

Is Car Insurance Tax Deductible?
Claiming car insurance as a tax deduction can save small business owners, freelancers, and contractors money. Here's how to calculate it tax deductible car insurance and how to tell if you qualify.
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Jerry
Mar 15, 2022
Arizona’s Vehicle License Tax (VLT), Explained
The Arizona Vehicle License Tax (VLT) is a part of a registered driver’s yearly fees and is calculated in place of a personal property tax that is charged in other states.
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Jerry
Apr 27, 2022
Is Home Insurance Tax Deductible?
You cannot claim your home insurance as a tax deduction unless you rent your property, work from home, or suffer a loss not covered by your insurance.
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Jerry
Apr 27, 2022
How to Tell if Your Car Insurance Settlement is Taxable
An insurance settlement for damages sustained in a car accident may or may not be taxable, depending on the reason for the settlement. Read this guide to learn when car insurance settlements are taxable.
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Jerry
Apr 27, 2022
Private Party Vehicle Use Tax: What Is Tax Form RUT-50 in Illinois?
If you’re an Illinois resident with a car acquired via a private party, you should know about the RUT-50 form, a tax document required for private car buying.
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Jerry
Mar 24, 2022
How to Deduct a Car Accident From Your Taxes
You can deduct the physical and property damage caused by an accident on your federal taxes using Form 4686 and Schedule A of Form 1040.
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Jerry
Apr 27, 2022
Who Should Pay For Road Fixes?
Republicans and Democrats disagree on how to fund infrastructure, with some representatives wanting a vehicle mileage tax, corporate taxes, or a raise on gas taxes.
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Jerry
May 02, 2022
How to Get a Hybrid or Electric Car Tax Credit
It's important that you know all of the rules before you try to get tax credit for your electric or hybrid car. Remember that most cars have to be less than 10 years old to qualify.
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Jerry
Apr 27, 2022

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?
Talullah Blanco
Feb 03, 2022
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.
Liz Jenson
Mar 29, 2022
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?
Emily Maracle
Feb 10, 2022
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?
Will Baldwin
Dec 03, 2021
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.
Shannon Martin
Nov 23, 2021
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?
Mercedes (Sadie) Lovemore
Feb 15, 2022
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?
Shannon Martin
Aug 25, 2021
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?
Chloe Jenkins
Feb 10, 2022
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?
Eric Schad
Dec 10, 2021
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?
Will Baldwin
Dec 02, 2021
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?
Shannon Fitzgerald
Feb 15, 2022
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?
Emily Maracle
Feb 10, 2022
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?
Nick Kunze
Feb 21, 2022
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?
Eric Schad
Dec 13, 2021
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?
Lauren Smith
Oct 07, 2021
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?
Eric Schad
Dec 10, 2021
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?
Will Baldwin
Dec 02, 2021
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?
Liz Jenson
Apr 05, 2022
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?
Matthew Macgugan
Nov 01, 2021
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?
Mercedes (Sadie) Lovemore
Feb 15, 2022
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?
Emily Maracle
Oct 19, 2021
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?
Will Baldwin
Dec 03, 2021
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?
Shannon Martin
Aug 25, 2021
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?
Melanie Mergen
Feb 25, 2022
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?
Joshua Levy
Nov 18, 2021
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?
Liz Jenson
Jan 21, 2022
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?
Will Baldwin
Dec 02, 2021
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?
georgina grant
Nov 08, 2021
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?
Emily Maracle
Feb 11, 2022
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?
Matthew Macgugan
Nov 10, 2021

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