Most people here will disagree with the premise of the question, so try to disregard that (and that I know this is likely a very bad idea).
I'm considering buying a (new) car that I can't afford (unimportant details below), and I'm thinking about starting to drive for ridesharing apps on the side.
How much of the cost of the car (or the monthly payments) can I deduct from the income of the business, seeing how the car is obviously necessary for the business? The same question goes for insurance. The car will obviously be used privately by me as well.
Does the car need to be purchased by or registered to the company? The plan obviously is the buy the car, then start the business.
Is there anything I need to do in recordkeeping or budget to be able to deduct the cost of the car from the income of the business?
Could I let the business rent the car from me for the whole cost of the car regardless of the profit of the company?
Unimportant details about my finances:
I have a 401k that I just took a loan from to pay off credit card debt and other stuff. I don't have emergency savings (I do have enough in credit card credit lines to make it 6 months but logistics would be extremely difficult on getting money to pay mortgage/car payment.