I'm Justice Brakache aka Mr. Peach answering if auto insurance is tax deductible! I'm here today at one of our 16 locations to do what I do best and that's answer questions for our customers. And by the way I am a licensed insurance agent in the state of Georgia.
Hi there, I'm Bill, and I have a question for you. Is auto insurance tax deductible?
Hey there Bill! Is auto insurance tax deductible? Great question!
If you are self-employed and you use your personal vehicle for business, you can take a tax deduction for your car insurance. For example, an independent sales professional who travels the world for work can take the deduction. However, only the actual mileage used for business travel is deductible. In other words, if you drive a vehicle 15,000 miles in your vehicle for business and you also drive 15,000 in your vehicle for personal use (a total of 30,000 miles annually). but only half of which would be deducted. So, yes you can deduct it from your taxes. Another reason to stay so sweet at the peach!
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