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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 · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
All that time with dogs—what a job! The short answer is yes, you can claim car loan payments on taxes.
If you have a
car loan
on a vehicle used for business purposes, the car loan interest and some vehicle expenses are able to be deducted when filing your taxes.However, in order to do so, you will need to carefully document the percentage of time you drive the vehicle for business versus personal purposes and keep all receipts associated with car-related business expenses.
What’s even better, there are more ways to cut your vehicle expenses. With the
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- Gregory R.
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