If you own your vehicle (and financing it), then you should be eligible to deduct the business portion of your interest payment as a business expense. You can't deduct the loan principal amount as a business expense, however. If you lease your vehicle, you can deduct the business portion of your vehicle lease. 

Note that most actual vehicle expenses, like lease payments, repairs, maintenance and gas can’t be combined with mileage expenses if you track mileage in Hurdlr. However, the app is smart enough to know which method will result in the biggest tax deduction.

To switch between deducting actual expenses and mileage, tap the Taxes tab (🎩) >Tax Settings (gear icon), and toggle on/off "Use Mileage Deduction" to compare tax estimates using either method.

Disclaimer: The information contained here is provided for informational purposes only and should not be construed as financial or tax advice. It is not intended to be a substitute for obtaining accounting or other financial advice from an appropriate financial adviser or for the purpose of avoiding U.S. Federal, state or local tax payments and penalties.

Did this answer your question?