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March 12, 2023
Question

I use My vehicle for courier deliveries. Vehicle expenses, commercial insurance, repairs etc. can they be claimed. If so how and which pkg should I get to do this prope

  • March 12, 2023
  • 1 reply
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    1 reply

    March 16, 2023

    You are considered self-employed, and you can deduct the business-related expenses associated with your work.

    If you use it exclusively for your business, you can deduct all of the expenses related to that vehicle.

    Vehicle-related business expenses you can claim on your tax return include:

    • gas
    • insurance
    • repair costs
    • parking fees

    If you use your vehicle for both business and personal use, you can deduct a percentage of those costs based on how often you use your car for business. For example, if you drive your vehicle 25,000 kilometers in a tax year and 5,000 of those kilometers are for business purposes, you can deduct 20% of your vehicle expenses from your self-employment income.

     

    You can check a step by step on how to proceed: How do I claim vehicle expenses if I'm self-employed? 

     

     

    For more information, visit Tax Deductions for the Self-Employed 

     

    Thank for choosing TurboTax.