Are Electric Bikes Tax Deductible: What You Need to Know
Yes, electric bikes are tax deductible in certain circumstances. If an electric bike is being used for business purposes, such as for commuting to work or for deliveries, it may be considered a business expense and therefore eligible for tax deductions. However, if the electric bike is being used solely for personal purposes, it may not be eligible for tax deductions. It is always advisable to consult a tax professional for specific advice pertaining to individual tax situations.