# Standard mileage deduction reduced for 2016



## anotheruberperson (Feb 10, 2016)

FYI the standard mileage deduction is reduced for 2016, from 57.5¢/mi to 54¢/mi


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## joeboston (Jan 10, 2015)

This is because of low fuel prices.


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## LAuberX (Jun 3, 2014)

Uber lowered the fares so you won't have any problem with being taxed on a profit.


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## c32amg (Sep 7, 2015)

LAuberX said:


> Uber lowered the fares so you won't have any problem with being taxed on a profit.


What you mean profit...uber fee?


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## UberTaxPro (Oct 3, 2014)

c32amg said:


> What you mean profit...uber fee?


uber fee = all the $$$ drivers earn for the benefit of Uber
profit = the $$$ drivers earn but don't get to keep after deducting operating expenses and the above "uber fee"


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## LAuberX (Jun 3, 2014)

c32amg said:


> What you mean profit...uber fee?


I mean there is no money to be made, no worry about making a "profit" at these rates.


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## UberXTampa (Nov 20, 2014)

Uber has your back on this one.

With Uber, cheaper gas means even cheaper fares. No windfall for drivers. Ever!

Right now, rates are so low that, even a lower IRS deduction will suffice to offset almost all taxable income.


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