How To Make Money With Your Car [VIDEO]

Did you know if you have a little extra time and a vehicle, you could be earning some extra money? You won't have to spend much either, it could be as close as your garage.

Here are some tips for turning your car into dollar signs.

First, understand that your car can be an actual business, not just a business expense. The vehicle you take to and from your job and occasionally use for work is generally considered to be a tax write-off, as long as you keep track of your business-related miles. But, if your income is tied directly to your vehicle, you'll need to get the required licenses, permits and registrations.

For example, if you start a business that involves moving or delivering goods in a truck or cargo van, you'll need a commercial driver's license. Check to see what permits may be needed in your city or state. The same goes for if you want to become a personal driver or start a taxi service. Check local regulations. Many cities have a taxi commission that requires a permit. Operating without one could land you fines, as will carrying more than 6-8 passengers at a time without permission.

For other services like running errands or being a personal assistant, services for which you assume all liability, you won't need any special permits or a business license...at least, not yet.

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