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Tax deduction

Only to the extent you use it for business. Personal portion, including commuting to work, is not tax deductible.
 
Only the percentage of the interest that the car is used for business. And commuting to a job doesn't count.
 
Ah yes. Tax reform in the 80s. What was it we were supposed to get again,for giving up things like that?
 
Depends on the percentage of business or farm use of the vehicle or the type of travel necessary in your occupation, some travel qualifies and some does not.
 
It has never been deductable except as a business expense. Travel to and from work has never been deductable either. Best answer is a flat tax, no deductions. That way everyone gets the same treatment.
 
It could be if your car is being paid for with a home equity loan. In that case it's deductible as mortgage interest. But that only applies if the loan is secured by your equity in your home and not if it's secured by the car.
 
Your right about the flat tax. Travel to and from work is deductible if you travel to at least three temporary work sites per year, you have to keep up with the dates and milage and it must be the actual work location and not trips for meetings, training courses or conventions.
 
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