# No more mileage write off?



## since05/16 (Jan 7, 2017)

The new Tax code, anyone read it?


----------



## Skinny1 (Sep 24, 2015)

I have yet to see that said.

Everything I am reading is that since the standard deduction is doubling most folks will not itemize.


----------



## UberTaxPro (Oct 3, 2014)

since05/16 said:


> The new Tax code, anyone read it?


Where are you getting information that the mileage write off is gone? NOT TRUE!!!



Skinny1 said:


> I have yet to see that said.
> 
> Everything I am reading is that since the standard deduction is doubling most folks will not itemize.


Yes! The new tax law will affect itemized deductions and income allocations, the mileage deduction is a business deduction and has nothing to do with itemizing.


----------



## Skinny1 (Sep 24, 2015)

UberTaxPro said:


> Where are you getting information that the mileage write off is gone? NOT TRUE!!!
> 
> Yes! The new tax law will affect itemized deductions and income allocations, the mileage deduction is a business deduction and has nothing to do with itemizing.


Dumb me , that's why you are the pro. Correct the expensing would hit the business net income .... lots of misinformation right now out there ... they need to lock this bill in and set it straight.


----------



## UberPissed (Aug 13, 2014)

I hear the revision will be done in crayon.


----------



## since05/16 (Jan 7, 2017)

It was a question. That's why I used a ?
I am not trying to bring false information. I really don't know how ride share will be affected.
You made it clear Tax pro.
It is a business deduction and stays.


----------



## pcDragon (Oct 11, 2016)

Snopes says a bunch of confusion over one part of new tax plan and a viral (and incorrect) post going around the net... Business deductions are NOT going away.
https://www.snopes.com/tax-bill-small-business-deductions/


----------



## UberTaxPro (Oct 3, 2014)

UberPissed said:


> I hear the revision will be done in crayon.


Welcome back! Where have you been?


----------



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

since05/16 said:


> It was a question. That's why I used a ?
> I am not trying to bring false information. I really don't know how ride share will be affected.
> You made it clear Tax pro.
> It is a business deduction and stays.


One of the effects will be 5% of your income being withheld by uber.

Taxis will get hit with it too, but i'll actually owe money in taxes, most uber drivers won't.

The result will be a pay cut every week, and a refund.


----------



## Rat (Mar 6, 2016)

Mears Troll Number 4 said:


> One of the effects will be 5% of your income being withheld by uber.
> 
> Taxis will get hit with it to, but i'll actually owe money in taxes, most uber drivers won't.
> 
> The result will be a pay cut every week, and a refund.


You just made all that up


----------



## UberIsverycaring (Dec 5, 2017)

Rat said:


> You just made all that up


oh Rats!!!!!


----------



## Amsoil Uber Connect (Jan 14, 2015)

UberPissed said:


> I hear the revision will be done in crayon.


Ya but one still needs a 23 grade level to understand it.

I suppose the code will be 3 volumes now and another 500 pages of gooblie ****.


----------



## Okphillip (Feb 6, 2017)

The Republicans don't even know half of what they are voting for and how disastrous it will be to the national debt and yearly deficit!!!


----------



## SEAL Team 5 (Dec 19, 2015)

since05/16 said:


> The new Tax code, anyone read it?


That's for personal use, not business use. Personal use as driving to physical therapy, driving to CPA's office etc. Your miles for business use are still tax deductible.

I'm going to go out on a limb and state that with all this new gig economy for driving than don't be surprised to see the standard mileage deduction for business fall to under $.40/mile in the next few years.



Okphillip said:


> The Republicans don't even know half of what they are voting for and how disastrous it will be to the national debt and yearly deficit!!!


Can't see it being anywhere close to the $1.25 trillion/year deficit that we've incurred for the past 8 years.


----------



## Amsoil Uber Connect (Jan 14, 2015)

Okphillip said:


> The Republicans don't even know half of what they are voting for and how disastrous it will be to the national debt and yearly deficit!!!


You forgot the other 98.6% of the voter registered population.


----------



## R James (Apr 25, 2017)

Remember, as Uber drivers we are BUSINESS OWNERS! Exactly the type of people that Trump loves (har, har)! So let's screw the little people and start voting Republican!


----------



## SEAL Team 5 (Dec 19, 2015)

R James said:


> Remember, as Uber drivers we are BUSINESS OWNERS! Exactly the type of people that Trump loves (har, har)! So let's screw the little people and start voting Republican!


Small business tax laws have been virtually untouched for years. Don't be hateful because you jumped into something blind. The tax laws for driving with Uber have been almost exactly the same since Uber's inception in '09. Don't blame others for your own ignorance.


----------



## R James (Apr 25, 2017)

SEAL Team 5 said:


> Small business tax laws have been virtually untouched for years. Don't be hateful because you jumped into something blind. The tax laws for driving with Uber have been almost exactly the same since Uber's inception in '09. Don't blame others for your own ignorance.


Drive a few extra hours this week so you can buy a sense of humor. : )


----------



## SEAL Team 5 (Dec 19, 2015)

R James said:


> Drive a few extra hours this week so you can buy a sense of humor. : )


If I want humor I just read a few posts on UP.net. It's better than the Spicoli "I Don't Know" scene in Fast Times at Ridgemont High. The sad part though is that I'm laughing and shaking my head at the same time. Not only are most of the posts in this forum asinine, but the grammar and spelling is that of a third grader.


----------



## R James (Apr 25, 2017)

SEAL Team 5 said:


> If I want humor I just read a few posts on UP.net. It's better than the Spicoli "I Don't Know" scene in Fast Times at Ridgemont High. The sad part though is that I'm laughing and shaking my head at the same time. Not only are most of the posts in this forum asinine, but the grammar and spelling is that of a third grader.


Don't you mean that the "grammar and spelling ARE those of a third grader"?


----------



## SEAL Team 5 (Dec 19, 2015)

R James said:


> Don't you mean that the "grammar and spelling ARE those of a third grader"?


 No, I don't. I'm referring to the singular action of a third grader even though multiple results are evident.


----------



## UberIsverycaring (Dec 5, 2017)

Rat said:


> You just made all that up


I smell a rat!!


----------



## cratter (Sep 16, 2017)

I believe they are trying to change the standard deuction from $6,000 to $12,000. So if you don't have any other deduction, you get to drive about 24,000 miles a year and not have to keep track of the miles.


----------



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

cratter said:


> I believe they are trying to change the standard deuction from $6,000 to $12,000. So if you don't have any other deduction, you get to drive about 24,000 miles a year and not have to keep track of the miles.


For those of us with $30,000+ in deductible expenses per year, you NEED to itemize.


----------



## UberTaxPro (Oct 3, 2014)

Beginning on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:


54.5 cents for every mile of business travel driven, up 1 cent from the rate for 2017.
18 cents per mile driven for medical or moving purposes, up 1 cent from the rate for 2017.
14 cents per mile driven in service of charitable organizations.


----------



## Older Chauffeur (Oct 16, 2014)

cratter said:


> I believe they are trying to change the standard deuction from $6,000 to $12,000. So if you don't have any other deduction, you get to drive about 24,000 miles a year and not have to keep track of the miles.


Possible changes to the standard deduction amount under discussion by Congress refers to filing personal tax returns, where you weigh the total of your tax deductible expenses, (medical expenses, property taxes, mortgage interest, etc) against a set amount allowed every taxpayer. It has nothing to do with the Standard Mileage Rate applied to the miles driven for business use, which of course requires a a contemporaneous mileage log of all those miles.

Disclosure: I'm not a tax professional.


----------

