New Car

[hurielbeta]

Can I write off the entire amount of a new car that I paid for in full in 2021?

[OpeA1]

Yes, but it depends on many things. See below for more help:

If it's directly related to the work you do, you can deduct it as an expense.

Work-related expenses reduce your taxes by lowering the amount of self-employment income you get taxed on. For example, if you made $50,000 in self-employment income and had $5,000 out-of-pocket expenses, you'd only get taxed on $45,000.

For state-specific questions regarding your work, click here to find your state’s Department of Revenue.

Reference: https://ttlc.intuit.com/community/self-employed/help/what-self-employed-expenses-can-i-deduct/00/255...