# Refund?



## NC252 (Jan 8, 2016)

I saw one Uber driver comment that his tax refund was $10,000...can this be possible with just deductions alone.....


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## Older Chauffeur (Oct 16, 2014)

NC252 said:


> I saw one Uber driver comment that his tax refund was $10,000...can this be possible with just deductions alone.....


Keep in mind that for the most part, your tax refund is made up of money you paid over the course of the year, either through payroll witholding if you have regular employment, or by making quarterly estimated tax payments for self employment earnings. There may be credits that can boost the amount of the refund, but maybe the person you referenced has a good paying job and took a loss on Uber/Lyft, allowing him to get a good chunk of his payroll witholding back. Another possibility is that he has lots of personal deductions and dependents that accomplish the same thing. If that's the case, he is giving the government free use of his money all year. I don't think it would be likely on Uber/Lyft income alone.

Disclosure: I am not a tax professional.


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## SEAL Team 5 (Dec 19, 2015)

NC252 said:


> I saw one Uber driver comment that his tax refund was $10,000...can this be possible with just deductions alone.....


And I saw one Uber X driver comment that his income was $131k... can this be possible with $.85/mile alone....



Older Chauffeur said:


> Keep in mind that for the most part, your tax refund is made up of money you paid over the course of the year, either through payroll witholding if you have regular employment, or by making quarterly estimated tax payments for self employment earnings. There may be credits that can boost the amount of the refund, but maybe the person you referenced has a good paying job and took a loss on Uber/Lyft, allowing him to get a good chunk of his payroll witholding back. Another possibility is that he has lots of personal deductions and dependents that accomplish the same thing. If that's the case, he is giving the government free use of his money all year. I don't think it would be likely on Uber/Lyft income alone.
> 
> Disclosure: I am not a tax professional.


I find it hard to believe a refund of $10k. Do you know how much you would have to lose in this business? Let alone someone paying $10k in taxable income over the year. I completely respect your knowledge in this field, but I find this next to impossible.


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## Older Chauffeur (Oct 16, 2014)

SEAL Team 5 said:


> And I saw one Uber X driver comment that his income was $131k... can this be possible with $.85/mile alone....
> 
> I find it hard to believe a refund of $10k. Do you know how much you would have to lose in this business? Let alone someone paying $10k in taxable income over the year. I completely respect your knowledge in this field, but I find this next to impossible.


Like I said, if this actually happened, there had to be high income from other sources, and rideshare used for a write off against that other income. I agree it wouldn't be possible on rideshare alone. When you've got guys in Teslas doing this they have got to have other income streams.


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## SEAL Team 5 (Dec 19, 2015)

Older Chauffeur said:


> Like I said, if this actually happened, there had to be high income from other sources, and rideshare used for a write off against that other income. I agree it wouldn't be possible on rideshare alone. When you've got guys in Teslas doing this they have got to have other income streams.


Thank you brother.


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## leosc (Sep 27, 2014)

From his real job
No way from uber earnings


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

Older Chauffeur said:


> Like I said, if this actually happened, there had to be high income from other sources, and rideshare used for a write off against that other income. I agree it wouldn't be possible on rideshare alone. When you've got guys in Teslas doing this they have got to have other income streams.


I know a lot of uber drivers who make over 50,000 a year...

Oh wait they all quit doing uber as a side gig because it isn't worth it anymore,

Nevermind


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