How to Deduct your Car Expenses on Your Taxes with DoorDash #shorts

Gig workers who use their personal vehicle for business can utilize two methods to deduct car expenses from their tax return. The first is a simple total of all expenditures, while the second option comes through calculating the standard mileage rate. To make sure you don't miss any deductions when filing your taxes this year, be aware that the IRS updates its rates annually! DISCLAIMER: Please note that I am not a Certified Personal Accountant (CPA), Chartered Financial Analyst (CFA), Certified Financial Planner (CFP) or Certified Student Loan Professional/Advisor (CSLP/CSLA). I can only share my experiences as it relates to my own student loans and personal finances, not my advice on your personal circumstances. Should you need help managing your finances, I would recommend contacting a professional. However, my hope is that my financial journey shared with you on this channel will inspire you to continue to make wise decisions with your money.