Tax season is finally upon us, so if you haven’t gotten started yet – it’s time to get moving. Fortunately, if your car is a big part of your life, you may be eligible to get some cash back, based on your automotive experience this year.
There are two types of vehicle tax write-offs that may work for you: personal or business. Personal use is reflected in travel deductions, while business use – of course – refers to the amount of driving you do for work.
Many people are able to successfully and accurately write-off miles for both personal and business use, which is why it’s important to keep track of what you’re using your car for throughout the year.
Additionally, depending in what state you live and what kind of car you drive, you may be eligible for special deductions, particularly if you drive a hybrid car or some other vehicle that is designed to lessen negative effects on the environment.
Be sure to do your research and talk to an expert, and hopefully, you can get some of your hard-earned cash back this year!