# What's the most that you've ever grossed in a year doing rideshare?



## Mordred (Feb 3, 2018)

I'm on pace to hit 80k. And I must say. It's been fun.


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## theMezz (Sep 29, 2018)

Who cares about Gross? What's the net?


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## Don'tchasethesurge (Dec 27, 2016)

Exactly gross don’t matter if your expenses and depreciation are high!


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## Mordred (Feb 3, 2018)

Don'tchasethesurge said:


> Exactly gross don't matter if your expenses and depreciation are high!


Depreciation doesn't matter. Only repair costs


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## OCUberGuy (Oct 11, 2017)

Mordred said:


> I'm on pace to hit 80k. And I must say. It's been fun.


Loved to see location also posted with that.


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## ABC123DEF (Jun 9, 2015)

His only expense is gas. And just like that...10,001 new ants just gained their Fuber stickers.


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## EngineerAtHeart (Nov 8, 2018)

Last year gross about 38K 20-35 a week part time and started driving in Apirl 2018.
Profited about 28K accounting for depreciation and gas.
Chicago market
Uber + Lyft + Flex

Taxes weren't too much a factor as my other job paid them through the tax collected (over collected - owed = <$500 left)

This year I'm on track for about 60K and 47K profit. Haven't driven during the 2nd half of May-June-July-1st half of August months. About to start up again.



OCUberGuy said:


> Loved to see location also posted with that.


Zip code he has is Athens, GA (University of Georgia)


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## Mordred (Feb 3, 2018)

theMezz said:


> Who cares about Gross? What's the net?


Net will be somewhere in the 60k range. Conservatively. I've never sold a car and I don't plan on starting with this one, so depreciation is a meaningless number to me. Repair cost is all that matters.


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## EngineerAtHeart (Nov 8, 2018)

Mordred said:


> Net will be somewhere in the 60k range. Conservatively. I've never sold a car and I don't plan on starting with this one, so depreciation is a meaningless number to me. Repair cost is all that matters.


Okay but you won't get much for a newer car if it has 150K on it. And even if you kept it the whole life of it you are shortening it 5x faster.


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## Don'tchasethesurge (Dec 27, 2016)

EngineerAtHeart said:


> Okay but you won't get much for a newer car if it has 150K on it. And even if you kept it the whole life of it you are shortening it 5x faster.


Agreed... ppl like that just didn't do very well in math class... let me just disregard this variable entirely just cause I say so... yup my math works.


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## Mordred (Feb 3, 2018)

EngineerAtHeart said:


> Okay but you won't get much for a newer car if it has 150K on it. And even if you kept it the whole life of it you are shortening it 5x faster.


Cars aren't alive. So they don't have a whole life. Just sit aside 6k a year and your car will be immortal. No depreciation cost. Just 6k a year.


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## 7Miles (Dec 17, 2014)

You should quit your day job and do it full time! 
Defy the statistics of underpaid drivers! Show it to them !


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## Asmedious (Jul 25, 2019)

EngineerAtHeart said:


> Last year gross about 38K 20-35 a week part time and started driving in Apirl 2018.
> Profited about 28K accounting for depreciation and gas.
> Chicago market
> Uber + Lyft + Flex
> ...


Just to clafify for me a bit, did you end up paying more in taxes with the other job, or got some money back? I'm hoping that my empty miles will actually give me more back from my deductions through my regular job.


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## EngineerAtHeart (Nov 8, 2018)

Asmedious said:


> Just to clafify for me a bit, did you end up paying more in taxes with the other job, or got some money back? I'm hoping that my empty miles will actually give me more back from my deductions through my regular job.


Let's talk at the federal level. You get a $12,000 personal deduction. The first $12,000 you make (profit) is not taxed. Rideshare in 2018 profited me $28,000. So I owe taxes on $16,000 worth.

You are correct in saying addition dead miles will lower your 'profit', thus lower tax liability. But make sure you are truthful in your claim of dead miles. I use MileIQ.

What I did was change my personal deductions to 0 (my regular job will now collect taxes at a rate that includes the first $12,000.

So I owe taxes from the $16,000 of rideshare taxes, but my regular job overcollected $12,000 worth.

$16,000 - $12,000 = $4,000 new tax liability.

Positives to this is a smaller lump sum tax bill in April.
Negatives to this mean you are not holding that additional tax money to gain interest on. I preferred them keeping it because the interest gained would be marginal.

This would also work in most states that give a deduction. When I was in Illinois they did not so I paid a full 5% of $28,000.

This is overly simplified but it should give some insight.

Not a tax professional and not responsible for others' decisions.


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## Asmedious (Jul 25, 2019)

I appreciate your response. I figure it's going to be a tricky tax year when it comes to filing for me.


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## EngineerAtHeart (Nov 8, 2018)

Asmedious said:


> I appreciate your response. I figure it's going to be a tricky tax year when it comes to filing for me.


I like doing my taxes on paper a few times to get consistent values (whether positive or negative), so that when I go into TurboTax and see the values I expect around that range, and know I am filling them out correctly. But I think I'm in the minority.


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## Asmedious (Jul 25, 2019)

EngineerAtHeart said:


> I like doing my taxes on paper a few times to get consistent values (whether positive or negative), so that when I go into TurboTax and see the values I expect around that range, and know I am filling them out correctly. But I think I'm in the minority.


I hate to admit it, but my tax strategy is usually to grab my w2 forms around April 14th, quickly sign on to my tax software online and fill in the blanks, grind my teeth, and hope for the best.


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## EngineerAtHeart (Nov 8, 2018)

Asmedious said:


> I hate to admit it, but my tax strategy is usually to grab my w2 forms around April 14th, quickly sign on to my tax software online and fill in the blanks, grind my teeth, and hope for the best.


That works okay if you don't have many deductions and normal jobs (W2's like you said). But rideshare, it's a business.


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## 25rides7daysaweek (Nov 20, 2017)

Don'tchasethesurge said:


> Exactly gross don't matter if your expenses and depreciation are high!


If you have to figure in depreciation
you are probably driving too nice of a car..


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## Mordred (Feb 3, 2018)

7Miles said:


> You should quit your day job and do it full time!
> Defy the statistics of underpaid drivers! Show it to them !


I trust my bank account more than I trust those statistics.


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## OCUberGuy (Oct 11, 2017)

EngineerAtHeart said:


> Let's talk at the federal level. You get a $12,000 personal deduction. The first $12,000 you make (profit) is not taxed. Rideshare in 2018 profited me $28,000. So I owe taxes on $16,000 worth.
> 
> You are correct in saying addition dead miles will lower your 'profit', thus lower tax liability. But make sure you are truthful in your claim of dead miles. I use MileIQ.
> 
> ...


Was the $28,000 your net after your mileage and Uber cost of doing business deductions were deducted?


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## Mordred (Feb 3, 2018)

25rides7daysaweek said:


> If you have to figure in depreciation
> you are probably driving too nice of a car..


You don't have to factor in depreciation if you don't plan on selling your vehicle anytime soon. You wouldn't factor the depreciation of a half eaten pizza would you? It's an imaginary cost.


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## Ignatz (Aug 3, 2019)

Well Now There U have it!!! @Mordred has confirmed
Driving for uber is lucrative !!!

All the past driver earning reductions mean nothing.....


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## EngineerAtHeart (Nov 8, 2018)

Mordred said:


> You don't have to factor in depreciation if you don't plan on selling your vehicle anytime soon. You wouldn't factor the depreciation of a half eaten pizza would you? It's an imaginary cost.


We are past your OP lol.


OCUberGuy said:


> Was the $28,000 your net after your mileage and Uber cost of doing business deductions were deducted?


Yes. Grossed about $38K



Mordred said:


> I trust my bank account more than I trust those statistics.


Translation: I am cash poor and need help.


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## Mordred (Feb 3, 2018)

Ignatz said:


> Well Now There U have it!!! @Mordred has confirmed
> Driving for uber is lucrative !!!
> 
> All the past driver earning reductions mean nothing.....


So is there a dollar amount grossed that in your obviously well informed opinion would make driving uber worth it? Or are you just an entrenched hater?


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## EngineerAtHeart (Nov 8, 2018)

Mordred said:


> So is there a dollar amount grossed that in your obviously well informed opinion would make driving uber worth it? Or are you just an entrenched hater?


Full time? 60K gross 50K take home. Part time? 10-30K take home.


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## Mordred (Feb 3, 2018)

EngineerAtHeart said:


> We are past your OP lol.
> 
> Yes. Grossed about $38K
> 
> ...


You seem to have your mind made up on this whole uber thing although you have nothing in the way of facts or statistics to back up anything.



Ignatz said:


> Well Now There U have it!!! @Mordred has confirmed
> Driving for uber is lucrative !!!
> 
> All the past driver earning reductions mean nothing.....


Are you questioning the ability to gross 80k? If so you're being silly. With 80k you could buy a new car and still have cash left over.


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## Don'tchasethesurge (Dec 27, 2016)

Lol you disregard depreciation because you intend to keep... you can’t take variable n just make it disappear


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## 25rides7daysaweek (Nov 20, 2017)

Mordred said:


> You don't have to factor in depreciation if you don't plan on selling your vehicle anytime soon. You wouldn't factor the depreciation of a half eaten pizza would you? It's an imaginary cost.


If you go buy a $50000 car and drive it for 3 years its gonna be a pile of shit.
If you buy a $15000 car and drive it for 3 years it'll be a pile of shit too
Which pile of shit do you want?


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## ANT 7 (Oct 14, 2018)

Full time over $65K gross revenues............


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## Mordred (Feb 3, 2018)

25rides7daysaweek said:


> If you go buy a $50000 car and drive it for 3 years its gonna be a pile of shit.
> If you buy a $15000 car and drive it for 3 years it'll be a pile of shit too
> Which pile of shit do you want?


Why would it be a pile of shit? Just take 6-7k every year from your 60-80k gross and fix it.


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## EngineerAtHeart (Nov 8, 2018)

Mordred said:


> Why would it be a pile of shit? Just take 6-7k every year from your 60-80k gross and fix it.


Literally what we are saying. Therefore, you can't call that 6-7k income because it is an expense, and if it doesn't go to repairs it will be a replacement vehicle.


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## Castaneda7189 (Apr 14, 2017)

Mordred said:


> I'm on pace to hit 80k. And I must say. It's been fun.


Awesome! Good for you man! Quick question how many hours would you say you work on average?


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## Mordred (Feb 3, 2018)

Castaneda7189 said:


> Awesome! Good for you man! Quick question how many hours would you say you work on average?


Thats a complicated question. I probably average about 60. But considering that I do no physical labor, work in my comfort zone, listening to my radio, start and stop whenever I want, wear what I want, take days off whenever I want... I'd say that I have the stress and fatigue levels of 30 hours a week on a regular 9 to 5. Maybe less.


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## FLUBBER (Aug 14, 2018)

theMezz said:


> Who cares about Gross? What's the net?


Did someone mention gross? I would have made more but I ate all my riders. Get in my belly riders!! baaaahahha. M.A.G.A!!


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## 7Miles (Dec 17, 2014)

Mordred said:


> I'm on pace to hit 80k. And I must say. It's been fun.


$80000/52 weeks = $1538 per week.
You make $1538 per week?

Would love to see those weekly payouts screens


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## Mordred (Feb 3, 2018)

7Miles said:


> $80000/52 weeks = $1538 per week.
> You make $1538 per week?


It varies. But averages out to around that. It's not that hard to do in the right area. Toggling between uber and lyft you stay busy all day. Then you have your periodic special events where you can pull 2k a week.


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## 0x3imf3 (Feb 9, 2019)

Most people who view this thread: Wow that's way more than most jobs pay here in weed-hole Arkansas let me run out and do UberX and get a mortgage..

I made at least 32k net in one of the worse markets in the US using what I learned as a cab driver. I'd probably make a killing in NY, CA, or FL.. I make more with a CDL though..


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## OldBay (Apr 1, 2019)

Mordred said:


> It varies. But averages out to around that. It's not that hard to do in the right area. *Toggling between uber and lyft you stay busy all day.* Then you have your periodic special events where you can pull 2k a week.


Lol, no. Not where I live. Not where most people live.

Most people don't have pings constantly coming. If you are indeed being truthful, you are living in an area that is not saturated with drivers and has not fallen below .80/mi. If that market exists now, I guarantee it won't next year.

Sooner or later (probably even now) you are already making much less.


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## simont23 (Jul 24, 2019)

EngineerAtHeart said:


> Okay but you won't get much for a newer car if it has 150K on it. And even if you kept it the whole life of it you are shortening it 5x faster.


You say $60000 after all expenses. I say bullshit.



Mordred said:


> Net will be somewhere in the 60k range. Conservatively. I've never sold a car and I don't plan on starting with this one, so depreciation is a meaningless number to me. Repair cost is all that matters.


You sell the car to yourself when you start driving. You then depreciate this value.


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## Mordred (Feb 3, 2018)

simont23 said:


> You say $60000 after all expenses. I say bullshit.
> 
> 
> You sell the car to yourself when you start driving. You then depreciate this value.


It's not.


simont23 said:


> You say $60000 after all expenses. I say bullshit.
> 
> 
> You sell the car to yourself when you start driving. You then depreciate this value.


Depreciation means nothing unless I plan on selling the car soon. A car loses most of its value over time whether you drive it or not. Repair costs are all that matter. About 6-7k a year set aside would pretty much cover all maintenance and repairs.


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## Sid hartha (Jun 15, 2019)

Mordred said:


> Net will be somewhere in the 60k range. Conservatively. I've never sold a car and I don't plan on starting with this one, so depreciation is a meaningless number to me. Repair cost is all that matters.
> 
> You need a car to do Rideshare so you need to account for the purchase /maintenance /sell of your rideshare car. It is easy in the US - purchase price minus what you can see the car right now.
> 
> I learned the hard way that you may not need to pay fed/state income tax but you will need to pay 15% SSI-Medicare taxes.





EngineerAtHeart said:


> Let's talk at the federal level. You get a $12,000 personal deduction. The first $12,000 you make (profit) is not taxed. Rideshare in 2018 profited me $28,000. So I owe taxes on $16,000 worth.
> 
> You are correct in saying addition dead miles will lower your 'profit', thus lower tax liability. But make sure you are truthful in your claim of dead miles. I use MileIQ.
> 
> ...


To get a fair idea of what you earned from rideshare, you need to separate your two jobs and account for the incremental income from rideshare only as you would have gotten a tax refund if you didn't do rideshare.

First you need to pay the 15% SSI-Medicare tax on your net rideshare income- no one gets out of this on top of reg income tax which may put you in a higher tax bracket. I dont see how rideshare works if you have a good reg job.


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## 0x3imf3 (Feb 9, 2019)

simont23 said:


> You say $60000 after all expenses. I say bullshit.
> 
> 
> You sell the car to yourself when you start driving. You then depreciate this value.


Full time veteran Manhattan and Miami drivers do around 40k, so yeah BS...


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## goneubering (Aug 17, 2017)

Asmedious said:


> I hate to admit it, but my tax strategy is usually to grab my w2 forms around April 14th, quickly sign on to my tax software online and fill in the blanks, grind my teeth, and hope for the best.


That's the true American way!!


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## goneubering (Aug 17, 2017)

Mordred said:


> Cars aren't alive. So they don't have a whole life. Just sit aside 6k a year and your car will be immortal. No depreciation cost. Just 6k a year.


Your numbers are VERY impressive so you must be an Uber spy. 

For your $500 per month for repair expenses (which sounds high) are you planning to replace your engine and transmission?


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## Mordred (Feb 3, 2018)

goneubering said:


> Your numbers are VERY impressive so you must be an Uber spy. :wink:
> 
> For your $500 per month for repair expenses (which sounds high) are you planning to replace your engine and transmission?


Well I be replacing them any time soon, but that's how much you would need to put aside every month for those repairs whenever they occur.


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## goneubering (Aug 17, 2017)

Mordred said:


> Well I be replacing them any time soon, but that's how much you would need to put aside every month for those repairs whenever they occur.


How many hours do you drive per week to gross $1600? That would take me about 80 hours!


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## gooddolphins (Apr 5, 2018)

A little over 25000 driving part time.


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## Matt Uterak (Jul 28, 2015)

Just Under $9k


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## Disgusted Driver (Jan 9, 2015)

Best year was 4 years ago, did 38K gross I think. I was hitting it hard for a part time thing.


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## Diamondraider (Mar 13, 2017)

Mordred said:


> You don't have to factor in depreciation if you don't plan on selling your vehicle anytime soon. You wouldn't factor the depreciation of a half eaten pizza would you? It's an imaginary cost.


In this situation, Depreciation is an accounting term and you would be well served to educate yourself. You are likely in a tax free status for rideshare due to said depreciation.


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