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Hi I just bought a new vehicle can I write it off And can you explain to me how this works
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Great question! The only way you can write-off your car is if you have self-employed income and use your vehicle in your trade or business. If both of those apply to you, then some, or all of your car is fair game!

The “how” part of your question is more complicated. There are two ways to write-off your car on your taxes:  standard mileage rate or actual costs. Check out Keeper Tax's comprehensive guide to car tax write-offs to help with this process.

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Answer

Great question! The only way you can write-off your car is if you have self-employed income and use your vehicle in your trade or business. If both of those apply to you, then some, or all of your car is fair game!

The “how” part of your question is more complicated. There are two ways to write-off your car on your taxes:  standard mileage rate or actual costs. Check out Keeper Tax's comprehensive guide to car tax write-offs to help with this process.

No answer given yet!

Keeper Staff

Keeper is a delightfully smart tax filing software that's especially useful for people with 1099 contracting and freelance income. Our blog breaks down IRS guidance with real-world examples and analysis by tax professionals — empowering taxpayers to save money and take control of their finances.

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