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Is personal auto insurance tax deductible. If you drive a car for both personal and business uses you may deduct your insurance costs from your taxes for the percentage of the time you use your car for business. Ad 10 Of Aviva Customers Paid 184 For Their Car Insurance excl. One of the ways to retain a few more dollars is to maximize your personal income tax deductions.

Generally people who are self-employed can deduct car insurance but there are a few other specific individuals for whom car insurance is tax deductible such as for armed forces reservists or qualified performing artists. If a taxpayer uses the car for both business and personal purposes the expenses must be split. The deduction is based on the portion of mileage used for business.

Under certain circumstances many types of insurance can be deducted including car insurance. Ad Come Direct To Direct Line For A Car Insurance Quote You Cant Get Anywhere Else. If half the time you use your car is for business then you may deduct 50 of the yearly auto insurance costs on your taxes.

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The following are some guidelines for when you can and cant claim your auto insurance as a federal tax deduction. Individuals who own a business or are self-employed and use their vehicle for business may deduct car expenses on their tax return. Depending on how you use your car you may be able to deduct certain expenses related to your insurance premiums or even insurance deductible.

Get A Quote Today. Here are a few things to know about writing off your car insurance when filing your tax return. Ad Compare Car Insurance Quotes and Save up to 262 Online with Quotezone Now.