# Quarterly taxes



## clichealias (Mar 13, 2017)

i just started with uber this month. Do I have to pay taxes quarterly- or can I wait until the end of the year with my 1099? I'm confused. I live in a state with no state tax.


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## LAuberX (Jun 3, 2014)

wait till end of the year.

today you need to start a log book, enter the starting and ending odometer every day you drive for Uber/Lyft


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## UberTaxPro (Oct 3, 2014)

clichealias said:


> i just started with uber this month. Do I have to pay taxes quarterly- or can I wait until the end of the year with my 1099? I'm confused. I live in a state with no state tax.


Starting with Uber means your starting your own business. You should put this in your bathroom and take care of your business! : https://www.irs.gov/pub/irs-pdf/p583.pdf

The single most important thing you should be doing is a mileage log everyday. Doesn't matter how you do it but you have to do it. It's worth a lot of money to you if you drive a lot.

Get a good bookkeeping system set up and each quarter evaluate your income (profit and loss statement). If you have a profit you might have some quarterly taxes and Self Employment tax to to pay. If your breaking even or showing a loss you won't need to pay any quarterly tax for that quarter.


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

Looking at the Miami rates..

First of all you NEED NEED NEED! a daily mileage log like they said. This will provide all the documentation you need for end of year expenses.


Second, to awnser your actually question, looking at the miami rates, if you are doing XL/X but mostly X rides, you won't owe very much taxes at all.

If you are doing Lux/Lux SUV you WILL owe taxes out the wing wang.

So if you are doing a high end vehicle pay 8% of your earnings to the IRS every month as you earn it. If you do X... you probobly won't owe anything...


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