Tax day deadline has been extended to May 17th here's a reminder if you own a business, or self employed (rideshare driver, freelance writer, for instance) you might qualify to deduct the cost of car repairs on your federal tax return.
Here are some of the car repairs and routine maintenance you can deduct on your federal tax return (according to tax prep company
H & R block)
- Oil changes
- Repairs, such as replacing a broken headlight or fixing faulty brakes
- New tires
- New air filters
- New windshield wipers
In order to deduct these repairs good record keeping is important - keep track of your mileage (differentiating personal / business) with a mileage tracker (everlance, stride, mileage IQ) and to keep receipts and service records, but if you're a customer of Shige's Premier Auto Service we'll be happy to provide you with an extra copy if you need it!
For more information on how to calculate these expenses and make sure you're using the correct forms be sure to refer to the IRS website or a tax preparation company!
If it's time to bring you car in for service, don't hesitate to contact us for a courtesy inspection!