We apologize for the brief delay in launching CFMA’s new education and certification platforms. The CCIFP Recertification deadline has been extended to April 30, 2025. We truly appreciate your patience as we put the finishing touches on changes that are designed to improve and enhance your CFMA experience!

Primer on Contractor Tax Deductions for Car & Truck Expense

Since contractors invest in and use many types of vehicles, including cars and trucks, maximizing tax deductions and maintaining proper documentation is a concern for all CFMs. Navigating the rules and regulations can be daunting – mileage deductions, listed property rules, whether or not to include vehicle allowances in employee wages, and determining depreciation are just some of the issues that must be addressed.

If you are a CFMA member login to continue reading this article. If you aren't a member yet and would like unlimited access to all of the content on cfma.org, plus a variety of other benefits, join CFMA today!

About the Author

Rich Shavell

Read full bio