Using a Car for Business: What Can I Deduct?

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
Why Might You Use a Personal Car for Business?
Can You Deduct Car Expenses When Using a Car for Business?
Deductible Expenses
Nondeductible Expenses
Other Considerations
Depreciation
Recordkeeping
Employees Driving Company Cars
Qualifying for the Standard Mileage Deduction
Current Standard Mileage Deduction Rate
Where Do You Deduct Business Vehicle Expenses?
When you first used the vehicle for business purposes How many of the total miles were business-related Whether the vehicle was available for personal use during off-duty hours Whether you or your spouse have another vehicle available for personal use Whether you have evidence to support your deduction
What Expenses Can You Deduct if You Borrow a Vehicle for Your Business?
Pros and Cons of Using Your Own Car for Business Use
Pros
Cons
Ways to Fund the Purchase of a Personal Car for Business
A Word on Refinancing a Car Loan
The Takeaway
Frequently Asked Questions
About the Author
Susan Guillory is the president of Egg Marketing, a content marketing firm based in San Diego. She’s written several business books, and has been published on sites including Forbes, AllBusiness, and Cision. She enjoys writing about business and personal credit, financial strategies, loans, and credit cards. Follow her on Twitter @eggmarketing.
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