The car insurance premiums for your personal vehicle are only tax deductible if you drive it for business purposes ... maintenance, oil, tires, lease payments and registration fees over the course of ...

Is vehicle sales tax deductible? See how you can lessen your tax burden. Find out who qualifies and how you can claim and calculate your deduction.

Rep. Dave Taylor's USA Car Act mirrors that of fellow Ohio Republican Bernie Moreno, an auto-dealer-turned-senator.

Car loan interest can be tax deductible, but only in specific situations. If you’re a business owner or self-employed and use the vehicle for work, you may be able to deduct some of all of the ...

Here’s the potentially good news. A tax deduction on car loans might benefit mainstream car buyers. It’s not going to compensate for the damage being done by tariffs, meaning we’ll all still ...

The IRS spells out that the following types of interest are not deductible for tax purposes: Interest paid on a loan to buy a car for personal use Credit card and installment interest incurred on ...

Even if the car is mostly for personal use, but is expensive, you still may achieve a better tax deduction by leasing instead of purchasing. · Because cars depreciate in value so quickly in their ...

At the time, he said he intended to make interest paid on car loans fully deductible. But as the months passed, that particular tax proposal didn’t get so much attention. Other ideas ...

When it comes to mileage tax deductions, the self-employed mileage deduction is the largest one available. You don't claim this as an office expense, though. Mileage is included in the "car and ...

Lawmakers are planning to introduce legislation next week to allow car buyers purchasing American-made vehicles to deduct the interest paid on their auto loans from federal income taxes ...