# Second guessing my taxes



## TedSheckler (May 15, 2016)

So I started driving with Uber on a limited basis, one weekend night a week. I did not think that the tax implication would be anything of concern, but the more I read, I am starting to second guess myself. I live and drive in a suburban area, which is good for long rides, but there can be a lot of dead miles in between fares. The nearby city does not allow UberX, so I will take someone to the city, and then come back to where I can operate legally. Perhaps a poor choice economically, good choice legally, but either way I do not need a ticket or citation.

My question is, on such a limited Uber schedule, is there a tax implication when all is said and done?

Here's my forecast for 2016.

7400 miles for the year (this is an aggregate average of mileage driven thus far). I can forecast this pretty accurately as I cap my miles driven per night. 
$4699 net income (this is an aggregate average of weeks worked thus far)
Estimated Tax at 40% = $1879 (15 SE and 25 marginal)
Mileage deduction @ .54 = $3996
I did not even include the commission deduction yet.

I look at this and wonder if I am operating at a technical loss. Any thoughts would be appreciated. I do my own taxes and keep detailed records.


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## atthehop (Jul 24, 2015)

As an Independent Contractor I find it wise to pay 30% quarterly taxes to CYA. You will always get it back if you do not need to pay it but if you owe over 4k you will pay a penalty. Keep in mind if you have a full time job income from other sources may increase your tax rate on that income and you will owe more on that other income.


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## LAuberX (Jun 3, 2014)

keep a mileage log daily, most Uber drivers pay little to NO taxes.

low pay = low taxes.


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