# New I.R.S. web site for Uber



## hangarcat (Nov 2, 2014)

https://www.irs.gov/businesses/small-businesses-self-employed/sharing-economy-tax-center


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## hangarcat (Nov 2, 2014)

hangarcat said:


> https://www.irs.gov/businesses/small-businesses-self-employed/sharing-economy-tax-center


If you're ready for the I.R.S. to "help" prepare your return. Not throwing my C.P.A. under the bus next year...


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## Jerrie C (Aug 20, 2016)

I just started driving a week ago . What records do I need to keep ? What receipts do I keep . How do I separate what gas I use for work and what is my personal use ??


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## HighPockets (Aug 25, 2016)

Jerrie C said:


> I just started driving a week ago . What records do I need to keep ? What receipts do I keep . How do I separate what gas I use for work and what is my personal use ??


I'd suggest contacting a CPA to answer your specific questions for your particular situation. Even if you don't use them, they're far more knowledgeable then the average Joe. I'd keep track of everything, especially mileage until you can make contact with one.


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## UberTaxPro (Oct 3, 2014)

Jerrie C said:


> I just started driving a week ago . What records do I need to keep ? What receipts do I keep . How do I separate what gas I use for work and what is my personal use ??


If you own or are leasing the car you're using you'll most likely need to keep a mileage log. Make your entries daily. The mileage log will be worth a lot of money to you at tax time so not keeping one is not an option you should consider.


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## Jerrie C (Aug 20, 2016)

UberTaxPro said:


> If you own or are leasing the car you're using you'll most likely need to keep a mileage log. Make your entries daily. The mileage log will be worth a lot of money to you at tax time so not keeping one is not an option you should consider.


I just found the app Everlance . It was suggested by someone on here . This keeps track of mileage and expenses . Are you familiar with it ? Is this a good option ? I'm new and just really trying to be smart about this . Next I guess I should be looking for an accountant , any suggestions on what I look for ?


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## UberTaxPro (Oct 3, 2014)

Jerrie C said:


> I just found the app Everlance . It was suggested by someone on here . This keeps track of mileage and expenses . Are you familiar with it ? Is this a good option ? I'm new and just really trying to be smart about this . Next I guess I should be looking for an accountant , any suggestions on what I look for ?


I'm not familiar with Everlance but that doesn't mean it's not good. There are tons of apps for mileage tracking that work well and pen and paper is also acceptable to the IRS and even preferred by them. Paying for business items with a credit or debit card is a good idea because it creates a receipt that you can always find! If you're gonna use a tax pro look for an Enrolled Agent (EA) or a CPA that specializes in taxes.


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## Wayne_brain (Jul 18, 2016)

If you go to H and R Block, you can get at least 1 free consultation about record keeping. There should be one open near you [this time of the year].


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## UberTaxPro (Oct 3, 2014)

Wayne_brain said:


> If you go to H and R Block, you can get at least 1 free consultation about record keeping. There should be one open near you [this time of the year].


You usually get what you pay for. If it's free I would be suspicious that its more of an advertisement than a consultation. Most tax preparers at these type of places are not enrolled agents or cpa's. Request that any "free" consultation is with a licensed pro, enrolled agent or cpa, otherwise look elsewhere. A certified bookkeeper could also help you with record keeping specifically and might be more cost effective.


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## Wayne_brain (Jul 18, 2016)

FYI, you can ask for an Enrolled Agent or CPA prior to your "free" consultation. I was happy with mines. Of course they hope to get your "business."
Another free source is the IRS directly at 1-800-829-1040. Hiring a bookeeper might be an overkill for UBER [How much do they charge].
My IRS records are my mileage log, my VISA statements [the actual tolls show up there], and my weekly reports [UBER charges,etc].
And if I ever was my car or buy water for others [lol], I put it on my VISA. Somewhere on the IRS web site is a factor you can apply against your UBER actual mileage. I was told it was 40% but I haven't found it yet. I'm very part time with UBER: for 2016 my gross is less than 10K.


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## UberTaxPro (Oct 3, 2014)

Wayne_brain said:


> FYI, you can ask for an Enrolled Agent or CPA prior to your "free" consultation. I was happy with mines. Of course they hope to get your "business."
> Another free source is the IRS directly at 1-800-829-1040. Hiring a bookeeper might be an overkill for UBER [How much do they charge].
> My IRS records are my mileage log, my VISA statements [the actual tolls show up there], and my weekly reports [UBER charges,etc].
> And if I ever was my car or buy water for others [lol], I put it on my VISA. Somewhere on the IRS web site is a factor you can apply against your UBER actual mileage. I was told it was 40% but I haven't found it yet. I'm very part time with UBER: for 2016 my gross is less than 10K.


I suggested a bookkeeper for her record keeping issues. A bookkeeper would generally be less expensive than a licensed tax pro for a "record keeping consultation" 
There is no "factor" to apply against Uber mileage that I know of. Please send a link if you find something. Perhaps you're thinking of the business use % or the Standard Mileage deduction of .54 cents per mile?


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## TecJay (Jun 27, 2016)

Jerrie C said:


> I just found the app Everlance . It was suggested by someone on here . This keeps track of mileage and expenses . Are you familiar with it ? Is this a good option ? I'm new and just really trying to be smart about this . Next I guess I should be looking for an accountant , any suggestions on what I look for ?


Hurdlr is a good app. It tracks your mileage, expenses and can seperate your business charges and pay from personal for tax purposes. Not only does it track your mileage but it tells you how much money you will be able to deduct from your taxes. There is an auto track feature you can turn on which starts when you drive over 10mph, so you won't have to do anything just concentrate on your drive. Check it out its free.


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## rubivroom (Jul 26, 2016)

I use Stride Drive mileage tracker. It's free as well and is geared towards Uber & Lyft drivers. It has all you need, it'll also create daily and weekly reports for you. Just don't forget to start it up when you get going. I think it's also a good idea to track your starting mileage by hand each time you go out to drive.


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## UberTaxes (Feb 5, 2015)

Wayne_brain said:


> My IRS records are my mileage log, my VISA statements [the actual tolls show up there], and my weekly reports [UBER charges,etc].
> And if I ever was my car or buy water for others [lol], I put it on my VISA. Somewhere on the IRS web site is a factor you can apply against your UBER actual mileage. I was told it was 40% but I haven't found it yet.


The IRS factor that you may be referring to is the ratio of miles with passengers in the car to total miles driven for business. Uber reports the first number in its yearly tax summary, while it is the second number that you should use to compute your car business expense.

The IRS had some guidelines of what the minimum ratio could be for taxi drivers. It is not clear if the same number would be used for rideshare drivers.


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## tohunt4me (Nov 23, 2015)

hangarcat said:


> https://www.irs.gov/businesses/small-businesses-self-employed/sharing-economy-tax-center


Great. Now we have a special group.
Full of fresh eager employees.
Thus should be fun . . .


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## thelittleguyhelper (Aug 6, 2016)

tohunt4me said:


> Great. Now we have a special group.
> Full of fresh eager employees.
> Thus should be fun . . .


Well that's cool. At least they're trying to provide some help.

Just remember one admonishment given by a judge from the IRS tax court: you follow the government's (in his case, the IRS's) advice to your peril. 

But it still be *some* help--so that's a plus.


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## tohunt4me (Nov 23, 2015)

thelittleguyhelper said:


> Well that's cool. At least they're trying to provide some help.
> 
> Just remember one admonishment given by a judge from the IRS tax court: you follow the government's (in his case, the IRS's) advice to your peril.
> 
> But it still be *some* help--so that's a plus.


The I.R.S. is sharpening it's blades to ensure carving out a share of our non existent profits.


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## thelittleguyhelper (Aug 6, 2016)

tohunt4me said:


> The I.R.S. is sharpening it's blades to ensure carving out a share of our non existent profits.


The good news: if you don't turn a business profit then no taxes!

Use Uber right and...you can make out with more money (if you have other income sources). 

Ask a CPA (one who cares who is obsessive-compulsive, ideally: they're the best money you can spend in a year) or another driver you know (in person) for details--and it's fully legal, AND within congressional intent for the tax law.

Basics: legitimate business expenses (with a substantial economic effect to any business activity in which you are or will be engaged) should not be taxable (so long as provided for) as it contributes to development of the larger economy (even if not immediately).


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## tohunt4me (Nov 23, 2015)

thelittleguyhelper said:


> The good news: if you don't turn a business profit then no taxes!
> 
> Use Uber right and...you can make out with more money (if you have other income sources).
> 
> ...


They only allow losses for 3 years.
Get a business license,change the name you operate under every 3 years. I used to have a painting contracting business. Worked 7/7 schedule offshore. Half a year off.
If you change company name every 3 years on license,you can continue to lose money on paper.


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## thelittleguyhelper (Aug 6, 2016)

tohunt4me said:


> They only allow losses for 3 years.
> Get a business license,change the name you operate under every 3 years. I used to have a painting contracting business. Worked 7/7 schedule offshore. Half a year off.
> If you change company name every 3 years on license,you can continue to lose money on paper.


Lol. I'd legitimately change the company itself to be sure I'm in compliance, personally. But sounds neat and clee-vverr! O_O


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