# Tax?



## HRD2UBER (Aug 26, 2016)

Last year I added up what was on my statement they provide and I added up exactly down to the penny. Well, they send a 1099 that states I made a lot more. WHAT THEE FLYING ****!!! So what do you really count to know how much you actually made?


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## SEAL Team 5 (Dec 19, 2015)

The 1099 that Uber sends you is your *GROSS *revenue. You need to subtract all Uber fees, payment fees and any other fee to get your *ADJUSTED GROSS *revenue. The adjusted gross should be exactly what was deposited into your bank account from Raiser LLC. From this adjusted gross is what you deduct your operational expenses from. Don't worry, you have proof of what you were paid by Uber from your bank records. It's just a little extra bookkeeping that Uber puts on the driver.


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## HRD2UBER (Aug 26, 2016)

SEAL Team 5 said:


> The 1099 that Uber sends you is your *GROSS *revenue. You need to subtract all Uber fees, payment fees and any other fee to get your *ADJUSTED GROSS *revenue. The adjusted gross should be exactly what was deposited into your bank account from Raiser LLC. From this adjusted gross is what you deduct your operational expenses from. Don't worry, you have proof of what you were paid by Uber from your bank records. It's just a little extra bookkeeping that Uber puts on the driver.


Hi thank you. I added up exactly what I got from the statements which is the amount that were on the statements. I added up $10,030 we I get the 1099 and they said I made 13,858 .....WTF! Where the fudge did the other 3800 come from...So confused.


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## unPat (Jul 20, 2016)

The 3800 is Uber’s commission.


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## Mars Troll Number 4 (Oct 30, 2015)

The cab companies do the same thing,

Except for me last year, instead of $3,800 it was somewhere in the range of $15,000 in expenses to write off and $20,000 in cash to report.

It would be really nice if uber actually old us this stuff, instead of leaving the drivers confused with no idea what to do, or no idea what documentation they were supposed to have


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## UberTaxPro (Oct 3, 2014)

Mears Troll Number 4 said:


> The cab companies do the same thing,
> 
> Except for me last year, instead of $3,800 it was somewhere in the range of $15,000 in expenses to write off and $20,000 in cash to report.
> 
> It would be really nice if uber actually old us this stuff, instead of leaving the drivers confused with no idea what to do, or no idea what documentation they were supposed to have


They would never explain it to the drivers, giving tax advice would jeopardize the independent contractor status with the IRS. Holding your hand too much could make you an employee instead of a contractor, something Uber wants to avoid at all costs.


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## Mars Troll Number 4 (Oct 30, 2015)

UberTaxPro said:


> They would never explain it to the drivers, giving tax advice would jeopardize the independent contractor status with the IRS. Holding your hand too much could make you an employee instead of a contractor, something Uber wants to avoid at all costs.


By explain i mean...

_"just so you know... every dime you pay us for expenses is a deduction..., the rental, the gas, the tolls, the 5% on credit, late fees (turning the car in late) everything... every dime that totals up in the "Cash due" column of your trip receipt is your deductible expenses...

You will be getting a 1099 come tax time that ONLY covers credit card revenue.. if you don't report your cash revenue... it's really bad...

So your revenue could easily be $20,000+ more than what you made, after you deduct your expenses it will balance out to what you actually made..

so if you made $30,000 and get a 1099 for $45,000 you need to deduct your expenses.._

That was literally it...


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## UberTaxPro (Oct 3, 2014)

Mears Troll Number 4 said:


> By explain i mean...
> 
> _"just so you know... every dime you pay us for expenses is a deduction..., the rental, the gas, the tolls, the 5% on credit, late fees (turning the car in late) everything... every dime that totals up in the "Cash due" column of your trip receipt is your deductible expenses...
> 
> ...


That's literally tax advice! Something they will never do because of the independent contractor status.


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## UberTaxPro (Oct 3, 2014)

HRD2UBER said:


> Last year I added up what was on my statement they provide and I added up exactly down to the penny. Well, they send a 1099 that states I made a lot more. WHAT THEE FLYING &%[email protected]!*!!! So what do you really count to know how much you actually made?


You really need to "account" not "count" for your income with some bookkeeping.
If you received a 1099 *K*, this might help:
https://www.irs.gov/businesses/understanding-your-1099-k


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## ColdRider (Oct 19, 2015)

HRD2UBER said:


> Hi thank you. I added up exactly what I got from the statements which is the amount that were on the statements. I added up $10,030 we I get the 1099 and they said I made 13,858 .....WTF! Where the fudge did the other 3800 come from...So confused.


Math is hard


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## taxhelp (Dec 10, 2017)

Once you understand the difference between the bank (what you received) and the 1099 the real fun begins - mileage, depreciation (if you own), etc...


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## Mars Troll Number 4 (Oct 30, 2015)

UberTaxPro said:


> You really need to "account" not "count" for your income


Isn't counting is the most important part of accounting?


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## UberTaxPro (Oct 3, 2014)

Mears Troll Number 4 said:


> Isn't counting is the most important part of accounting?


Not really, the most important thing in accounting is how the things that you count relate to each other. It's kinda like the difference between bookkeeping and accounting.


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## HRD2UBER (Aug 26, 2016)

SEAL Team 5 said:


> The 1099 that Uber sends you is your *GROSS *revenue. You need to subtract all Uber fees, payment fees and any other fee to get your *ADJUSTED GROSS *revenue. The adjusted gross should be exactly what was deposited into your bank account from Raiser LLC. From this adjusted gross is what you deduct your operational expenses from. Don't worry, you have proof of what you were paid by Uber from your bank records. It's just a little extra bookkeeping that Uber puts on the driver.


Thank you for your advice. So what your saying is count what I get after they take their share or count what the whole trip was before they take 25%??? I'm sorry if acting special...lol!


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## Mars Troll Number 4 (Oct 30, 2015)

HRD2UBER said:


> Thank you for your advice. So what your saying is count what I get after they take their share or count what the whole trip was before they take 25%??? I'm sorry if acting special...lol!


You count everything uber paid you...

Then deduct the difference between what uber paid you and whatever the heck shows up on your 1099 as a deductible business expense.


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## HRD2UBER (Aug 26, 2016)

Mears Troll Number 4 said:


> You count everything uber paid you...
> 
> Then deduct the difference between what uber paid you and whatever the heck shows up on your 1099 as a deductible business expense.


The reason I asked was I have this situation I'm in and they want to know exactly what I made this year before I get my 1099. So I was trying to give them an amount Now before 1099. So that is why I ask. So I should count what I made before they took out their 25%....???? Sorry



Mears Troll Number 4 said:


> You count everything uber paid you...
> 
> Then deduct the difference between what uber paid you and whatever the heck shows up on your 1099 as a deductible business expense.


I wish I could wait for the 1099 it would be so much easier but they are being assholes...


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## UberTaxPro (Oct 3, 2014)

HRD2UBER said:


> The reason I asked was I have this situation I'm in and they want to know exactly what I made this year before I get my 1099. So I was trying to give them an amount Now before 1099. So that is why I ask. So I should count what I made before they took out their 25%....???? Sorry
> 
> I wish I could wait for the 1099 it would be so much easier but they are being assholes...


Who is it that needs this information from you? Are you applying for a loan? It sounds like you need a profit and loss statement from your business. You need a bookkeeping system for your business to provide that information. I know some good online bookkeepers that could set you up. Send me a private conversation if you want a referral. Also check out Quickbooks self-employed.....works great for Uber drivers.


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## HRD2UBER (Aug 26, 2016)

UberTaxPro said:


> Who is it that needs this information from you? Are you applying for a loan? It sounds like you need a profit and loss statement from your business. You need a bookkeeping system for your business to provide that information. I know some good online bookkeepers that could set you up. Send me a private conversation if you want a referral. Also check out Quickbooks self-employed.....works great for Uber drivers.


I'm getting my loans forgiving and you have to be on a 3 yr probation period and this is the last month. And they need it before i get my 1099. I can work but I can't make over $16,000 dollars a year. If I do I get all my student loans back plus interest...I'm permanently disabled...So I just want to make sure I give the right amount or close to it. So count the amount before they take out 25% or after??? Thank you for offering help. Next year I will be sure to hit you up in private chat....


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## UberTaxPro (Oct 3, 2014)

HRD2UBER said:


> I'm getting my loans forgiving and you have to be on a 3 yr probation period and this is the last month. And they need it before i get my 1099. I can work but I can't make over $16,000 dollars a year. If I do I get all my student loans back plus interest...I'm permanently disabled...So I just want to make sure I give the right amount or close to it. So count the amount before they take out 25% or after??? Thank you for offering help. Next year I will be sure to hit you up in private chat....


To report it correctly you'd need a P+L statement. Basically, you need to report the amount after Uber takes their cut AND after you deduct your expenses. Gross amount - all Uber fees - your expenses (mileage deduction mostly) = net income (the amount that will go on your tax return and the amount you should report)
Also, if your going to drive anymore this year you'll have to estimate your earnings for the next couple of weeks left in December. Or wait till Jan 1 to do your calculations. 
I would make sure the $ you report is the same $ amount that goes on your tax return for your 2017 taxes. You might have to provide your tax return to them at some time for verification.


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## HRD2UBER (Aug 26, 2016)

Mears Troll Number 4 said:


> You count everything uber paid you...
> 
> Then deduct the difference between what uber paid you and whatever the heck shows up on your 1099 as a deductible business expense.


Thank you so much. I wish they would wait til my 1099 comes would make it so much easier...


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