# If you're using a fuel efficient car, you don't need to worry about taxes, right?



## Mike Brothers (May 12, 2016)

I'm new to this, I've only done 4 rides but I'd like to do Uber to save up a few thousand dollars for other business endeavors. Anyway, seeing all the quarterly tax stuff and taxes for this business in general is really confusing. If I'm understanding this correctly, if your fuel cost offsets the $0.56 deduction you get, then no need to worry about owing taxes at all, right? 

For example, I drive a Cruze and get ~27+mpg. Gas right now is about $2.30. That means for me to drive 1 mile, it costs $0.09 worth of gas. For 100 miles of driving, my tax deduction is $56. But at $2.30 a gallon it only costs me $9 in gas to drive. 

This is assuming you only use the mileage deduction instead of totaling all expenses. Am I missing something or am I correct in not worrying about taxes?


----------



## atthehop (Jul 24, 2015)

You pay taxes on your income less your expenses.


----------



## LAuberX (Jun 3, 2014)

keep a daily mileage log.

you have more expenses than just gas, most drivers average around .30 per mile actual costs driving a newish car.... the "worry" is wearing out your car and not making a "profit".

if you keep a log and drive one dead mile for every paid mile you won't owe any taxes. 

Uber, it just pays shit.


----------



## df60532 (Aug 26, 2015)

Try downloading the *Sherpashare app *on your phone. That is a pretty good way to see how little you're profiting. Just enter in some basic info like MPG and the mileage deduction and the app will show you what your driving is costing. It will automatically send you notices asking you to designate each trip as personal or business.

It made me stop driving quite frankly. *Driving for these ride share companies is like taking a loan out on your car.* _Except with the added benefits like_: risk of an accident, getting sued, the risk of being dropped by your insurance company, your car breaking down, traffic tickets, being assaulted, and living in poverty.

You'll make between $3 and 15 per hour (at best) depending on where you live, and what hours you drive. If you're willing to accept all that, it's up to you.


----------



## atthehop (Jul 24, 2015)

That Kool-Aid is still working.


----------



## Just Another Uber Drive (Jul 15, 2015)

atthehop said:


> That Kool-Aid is still working.


Oh yeah!


----------



## UbieWarrior (Apr 15, 2015)

If you drive 100 miles and get paid $100 from uber (net). Then $100-56=$44 income.

Just don't forget you get the mileage deduction for the backhaul and driving around while the app is on.


----------



## Fuzzyelvis (Dec 7, 2014)

Where do I buy a car that costs me nothing but gas?


----------



## Brian321 (May 19, 2016)

Fuzzyelvis said:


> Where do I buy a car that costs me nothing but gas?


That's damn funny! Thanks for the laugh.


----------



## I_Like_Spam (May 10, 2015)

Mike Brothers said:


> For example, I drive a Cruze and get ~27+mpg. Gas right now is about $2.30. That means for me to drive 1 mile, it costs $0.09 worth of gas. For 100 miles of driving, my tax deduction is $56. But at $2.30 a gallon it only costs me $9 in gas to drive.
> ?


Fueling efficient cars are fuel efficient mostly because they are a lot lighter and less sturdier.

Means you will have more wear and tear on a lighter vehicle.

There isn't a free ride.


----------



## Another Uber Driver (May 27, 2015)

Fuzzyelvis said:


> Where do I buy a car that costs me nothing but gas?


Ubercloudcuckooland.


----------



## Uber Lyft Dude (Jan 14, 2016)

I_Like_Spam said:


> Fueling efficient cars are fuel efficient mostly because they are a lot lighter and less sturdier.
> 
> Means you will have more wear and tear on a lighter vehicle.
> 
> There isn't a free ride.


Not true. Prius,accords,civic,etc out last heavier cars less wear and tear than heavy cars. Breaks on Prius last more than 100k. Heavy cars are heavy and yes needs more maintenance and also more damage to whoever they hit when in accident. Thus the reason many complain of cost of running them.


----------



## Brian321 (May 19, 2016)

I_Like_Spam said:


> Means you will have more wear and tear on a lighter vehicle.


That is absolute BS.

It is true that when a lighter car collides with a heavier car, the occupants of the heavier vehicle will usually have fewer injuries.

But... more wear and tear by driving a lighter vehicle? BS!


----------



## SEAL Team 5 (Dec 19, 2015)

Fuzzyelvis said:


> Where do I buy a car that costs me nothing but gas?


Go to Toys R Us and pick up a Hot Wheels car, then on your way home stop by your local taco stand and ask for extra frijoles. Buying that car will cost you nothing but gas.


----------

