# whew, it's over



## Ignatowski (Mar 23, 2019)

Did anyone else not do enough saving for tax, and bust their butt the last few weeks to come-up with a quarterly tax payment? I sent in my 1040-ES check for Q3 today. I sent about as much cash as I usually get paid in 2 weeks. I hadn't saved it up, so I had to do about 80% extra driving for the last 2.5 weeks. I am really tired.

I do lots of short rides (like 6 blocks downtown) and not much highway driving, so my mileage deductible is down around 50% of my pay. For example, I got $76 for 65 miles this morning, or a 49% deduction.


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## Cassiopeia (Sep 2, 2019)

I guesstimate that 99% of drivers aren’t paying quarterly estimated taxes. Good on you for doing it. 

$76 for 65 miles? Does that include deadhead miles? Do you start and stop your odometer tracking at your house?


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## Ignatowski (Mar 23, 2019)

Cassiopeia said:


> $76 for 65 miles? Does that include deadhead miles? Do you start and stop your odometer tracking at your house?


I am using Stride to track miles (and REALLY hope it works come tax-time). I track from before I start the car, until I'm about 1 mile from home.

I live close to an urban core, so traffic is crawling. Yesterday morning I took 3.5 hrs to cover 73 miles, but made $83 ($23.71/hr). Most pay comes from the surge/streak + minimum fare + minutes (in that order). This means that I can deduct a smaller percentage of my pay.


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## UberTaxPro (Oct 3, 2014)

Ignatowski said:


> I am using Stride to track miles (and REALLY hope it works come tax-time). I start tracking miles, then go on-line in the driver app, and usually just sit there until first ping. When I'm done with a driving shift, I use Uber destination filter set to a landmark 1 mile from home; when I reach that, I turn off Uber and Stride. I live close to an urban core, so traffic is crawling, and rides with too many miles can take way too long. Yesterday morning I took 3.5 hrs to cover 73 miles, but made $83. Mst pay comes from the minimum fare + minutes + surge/streak. Luckily, I can wait until a surge around me to even go outside. I mostly only drive when there is $3+ per ride surge/streak on Uber , or $5+ per ride PPZ/streak on Lyft. But this means I pay more taxes.


Do you have a job that issues you a W-2 form in addition to your ride-share business?


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## Ignatowski (Mar 23, 2019)

UberTaxPro said:


> Do you have a job that issues you a W-2 form in addition to your ride-share business?


Nothing but rideshare in 2019. But I'm interviewing at jobs now, and when I land one, I will ask them to withhold a lot extra (because I did NOT send a 1040-ES for Q2).

I think Uber/Lyft should provide an optional service where they allow drivers to configure our profile to wire some % our pay to the feds each week. I have now set-up a Bluebird AMEX just to receive Uber/Lyft pay, and I am transfering some each week to my family's bank account, and holding back some for taxes (well, I have now succeeded for 1 week, at least :smiles: ). Without a separate account, it was just too hard to save enough for quarterly taxes. I can't imagine how I could pay taxes if I let it ride until tax filing season.


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## Launchpad McQuack (Jan 8, 2019)

Ignatowski said:


> Did anyone else not do enough saving for tax, and bust their butt the last few weeks to come-up with a quarterly tax payment?


I applied my entire 2018 refund to my 2019 estimated tax, so I didn't even bother looking at the numbers for first and second quarters because I knew that I didn't owe anything yet. I crunched the numbers for third quarter on Monday because I thought I might be getting close, but my refund from 2018 still covers everything so I am good until Jan 15.


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## FLKeys (Dec 27, 2018)

Taxes suck, I'm increasing my W-2 Job withholding to off set Uber/Lyft income so I don't have to make quarterly payments.


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## Disgusted Driver (Jan 9, 2015)

FLKeys said:


> Taxes suck, I'm increasing my W-2 Job withholding to off set Uber/Lyft income so I don't have to make quarterly payments.


I do the same thing. Since w2 withholding is considered to have come in throughout the year, I have them take an additional 1k from my December check. Thats usually enough to keep me under the penalty trigger. But, these days I leave my app on for just Select while I am driving around town doing errands. On the rare occasion I get a ride I take it but those are far and few between and a lot of deductible mileage. Last year I was able to write off 90% of my uber and Lyft receipts.


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