21 Tax Deductions for Car Rental Providers | Beem

NAICS code: 532100

Car-sharing apps are becoming more popular among car owners as a way of earning extra cash and offsetting the costs of owning a car. This is a similar business model to Airbnb, except that instead of renting out your home, you can rent out your car. When it comes to tax reporting, you are also considered a small business owner as a peer-to-peer car owner. You can deduct business-related expenses, such as everyday auto expenses, from your tax return. You can take deductions based on your income and expenses, but you must follow certain rules and limitations.

A rental car – the last true mark of adulthood. Providing car rentals gives visitors, tourists, and people in a pinch a chance to enjoy some freedom for a short period of time.

Line finds the best write-offs for car rental companies to help you keep more of your hard-earned rental income. If you take advantage of these write-offs, you’ll be pleasantly surprised at how much your tax bill can be reduced. Take advantage of these savings before they’re gone!

We have put together a list of the most common write-offs for car rental providers that you can use to deduct your expenses.