ARE IGNITION INTERLOCK DEVICES TAX-DEDUCTIBLE IN 2024?
As tax season approaches, many Americans are asking themselves what kinds of deductions they can make to reduce their taxes owed and maximize their refunds. If you have had an Ignition Interlock Device (IID) installed—usually as a requirement after a DUI, OWI or similar drunk driving charge—you might be wondering if you can claim the costs of this device as tax-deductible. In this article, we'll address the question of whether or not IIDs qualify for tax deductions in the 2024 tax year.
The Allure of Tax Deductions:
Deductions allow American taxpayers to reduce their taxable income, potentially resulting in a lower amount of taxes owed. Deductible expenses can include a wide range of items, from medical expenses to business-related costs. Tax regulations outlining what kinds of expenses may or may not be tax-deductible change year to year, so it is important to do your research so your decisions will be based on an updated understanding of state and federal tax laws.
Ignition Interlock Devices and Tax Deductions:
Your tax professional may tell you that when it comes to IIDs, commonly required for individuals with drunk driving convictions, in most cases for 2024 these expenses are not tax-deductible for personal use. The Internal Revenue Service (IRS) generally considers IIDs as personal expenses rather than deductible business expenses.
However, there can be exceptions. Be sure to ask your tax professional if you are an individual who demonstrates a legitimate business reason for requiring an IID, such as for a company vehicle or as part of employment conditions. If so, the expense may qualify as a deductible business expense. It's important to consult with a tax professional to ensure you are complying with IRS guidelines.
When in Doubt About Tax Laws:
Tax laws are complex, sometimes ambiguous, and subject to change. Whenever you have any questions or doubts about your taxes, it is a good idea to consult with a tax professional for advice.
Even if your IID isn't tax deductible, you may still save money on your license reinstatement requirements with help from Intoxalock and Breathe Easy Insurance Solutions.
Getting your IID installed:
If you are considering getting an Ignition Interlock Device installed, consider how important it is to have an easy-to-use device. Intoxalock’s single button design makes it incredibly easy to use. Plus, with over 5,000 service locations across the country, Intoxalock gives you the most convenient scheduling and location options to accommodate your busy lifestyle.
Intoxalock is the most-installed IID provider in the United States and has more 5-star reviews on Trustpilot than any U.S. provider. Call Intoxalock at 888-579-7384 to get started with your convenient installation today.
Fast and Easy License Reinstatement:
Breathe Easy Insurance Solutions, Intoxalock’s insurance partner, specializes in providing money-saving insurance that meets states’ SR-22s and FR-44s requirements. Their policy options may help protect you from potential skyrocketing insurance premiums and non-renewed coverage because of a DUI, and their Intoxalock partnership provides a smoother path to license reinstatement. Breathe Easy’s licensed insurance agents give expert insurance guidance, Spanish-fluent service, and affordable policies from DUI-forgiving underwriters. Call Breathe Easy today at 888-205-4483 to get same-day proof of insurance and a copy of your proof of financial responsibility.
Neither Intoxalock nor Breathe Easy provide tax or legal advice. Always do your own research and talk to a tax professional about your circumstances.