While we cannot provide you with tax advice, generally, if a person uses their vehicle for both business and personal use, he or she must divide expenses between the business and personal use of the vehicle. The percentage of time a vehicle is made available for rental during a given tax year may be considered business use.
Deductible items may include car payments, maintenance, repairs, parking, depreciation, and other operating costs. Whether your vehicle is leased or owned, you may considering consulting IRS Publication 463 and/or a tax advisor to resolve any questions you might have.
On tax forms issued to you, we will report all rental and promotional revenue. Though these amounts may or may not be taxable income to you on your U.S. Income Tax Return, we are required to report them. We encourage you to consult with a tax advisor to determine how these items should be treated for tax purposes.
