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Sole proprietor+Car deduction+umbrella insurance

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  • Sole proprietor+Car deduction+umbrella insurance

    So lets say you work as 1099 contractor at hospital and also have a home office. Sole proprietor. You deduct miles commuting from these two places.

    You have personal auto insurance with a personal umbrella policy. You get in accident on way to work. Still covered by insurance? Umbrella policy specifically asks if car used for business.

  • #2
    You can not deduct commuting miles just because you claim a home office deduction. Your home must be considered your primary place of business. This is a facts and circumstances determination.

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    • #3
      If you are in your personal vehicle driving to work, no matter whether or not you take a tax deduction for vehicle use, your auto insurance and personal umbrella will cover you in the event of an accident.

      If you are driving a vehicle owned by a business, you need to have a commercial umbrella liability policy.

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      • #4
        I see thank you

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