Lake View, IL Tax Planning Expert Maximizes Your Auto Insurance Deductibles

Dec 7, 2022

Tired of paying huge tax bills in Lake View, Illinois? Golden Tax Relief (+1-844-229-8936) can reduce your obligations through auto insurance deduction!

Lake View, IL Tax Planning Expert Maximizes Your Auto Insurance Deductibles

Another year of paying car insurance premiums - with seemingly no rewards. Fortunately, Golden Tax Relief can help you turn your payments into tax deductions!

This service is ideal if you’re a self-employed professional or an entrepreneur who uses your vehicle in the course of your business. If you’re a qualified armed forces reservist, you can deduct your auto insurance from your tax obligations as well.

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The benefit applies if your annual auto-related costs exceed 2% of your adjusted gross income. Qualified use of a vehicle for business purposes includes picking up or delivering supplies, meeting your clients, or commuting to conferences (merely going to and from work does not count).

As per data from BankRate, the average cost of car insurance in Illinois is $1,946 per year. Though such policies provide a safety net and are required by law, they also represent a major expense to motorists like you.

By turning such an expense into a tax deduction, however, you can free up more cash flow. Golden Tax Relief works closely with you to verify whether your auto-related expenditures qualify as a write-off.

The company can also help you claim items like gas refills, repairs, parking fees, and annual depreciation as tax deductions. If your car has been stolen or deemed a total loss, you may also qualify for tax relief.

You can book a no-obligation consultation to identify other tax-saving opportunities.

About Golden Tax Relief

Golden Tax Relief helps you free up cash flow by taking advantage of often-overlooked or little-known tax benefits. The company was founded by Ben Golden, who has a bachelor's degree in accounting and a master of arts in taxation. The consultancy has been named one of Inc. 5000’s fastest-growing companies in the USA.

A satisfied client shared this review: “I loved Golden Tax Relief because they went above and beyond in every way. The strategy Ben put together and implemented was amazing. This was a process that was very overwhelming to me, but Ben and his team were with me every step of the way and at the end we did a victory dance.”

Your vehicle insurance policy doesn’t have to be wasted money. Golden Tax Relief can show you how to make the most of it through smart tax planning. Contact the team today!

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