I have a couple part time jobs, and I feel like both of them may allow me to exempt the remaining value left of my car ($1,000) as a tool of trade. I am a college instructor, and I teach at multiple campuses. I was told my gas would be tax deductible, so I'm wondering if the fact that I have to travel there qualifies me. I work also as a contract tutor, where in my contract I am expected to "meet the Client's reasonable expectations," which is meeting students at their homes. Do either or both of these count as tools of trade? Thanks in advance!
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When can you exempt car as tool of trade?
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