The general rule is that any ordinary and reasonable expense you pay while conducting a business activity is deductible in ...

Self-employed business owners can deduct the full purchase cost of qualifying equipment bought or financed after 2017. The limit in 2018 was increased from $500,000 to $1 million.

Are you self-employed? You might be, even if you don’t own or run an official business. Self-employment means you work for yourself, and it comes in many forms.