Recently there has been an increase in self-employed workers, freelancers, and side gigs. You can look at different forums (Reddit, Facebook, Instagram, Esty, Ebay, and others) and see an increase of activity.
Before starting this short discussion there are a few references that you should review: Form 1040, Schedules 1, 2, 3, C, and SE. Along with Publication 334, Publication 535, Publication 463, and Publication 583 at IRS.GOV.
BUSINESS EXPENSES: Can I write off a vehicle purchase?
This is just an overview of the question. For more detailed explanation see the publications below.
If you have a business, you need to be familiar with the rules for business expenses. I am a simple guy and don’t do will with legal speak. Everything you need is in the US Code Section 26. However, the IRS has publications that explain the code sections in plain English. You can’t use a publication as a legal reference or defense. You can use it to understand what is allowed.
These publications for IRS.GOV are the ones I go to when explaining business expenses. I highly recommend reading them:
Publication 334 – Tax Guide for Small Business
Publication 535 – Business Expenses
