# Estimate pay for taxes...



## AlexWalker90 (Apr 15, 2017)

Hi guys, I'm single and i made around $20,000 with uber and lyft. How much taxes i should expect to pay? 
Thanks in advance!


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

AlexWalker90 said:


> Hi guys, I'm single and i made around $20,000 with uber and lyft. How much taxes i should expect to pay?
> Thanks in advance!


That depends on how many miles you drove.

If your over 37,383 miles driven your tax liability will be absolute zero with uber/lyft being your only source of income.

If you drove zero miles your tax liability will be $3,000 minus any deductions you have.

There's also Maryland state taxes as well..

Then you have to factor in which tax bracket you fall into with any other income.

SO...

$20,000 in income for only federal is...

$0-$1,500
(A whole lot of help isn't it)

What market/city you are in has a BIGGER IMPACT than how much you actually made as to what your tax bill is.

$20,000 in Orlando will give you a federal tax bill of zero. (also $o to Florida and pretty much everyone else)

$20,000 in Seattle will result in OMFG where did all my money go?


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## AlexWalker90 (Apr 15, 2017)

Appreciate all the information that you gave me. I’m actually live in Maryland, and I think i drove around 22,000 miles with Uber and Lyft.


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

AlexWalker90 said:


> Appreciate all the information that you gave me. I'm actually live in Maryland, and I think i drove around 22,000 miles with Uber and Lyft.


22,000 miles at .535 a mile is..

$11,770 in deductible expenses

$20,000
-11,770

$8,230 in taxable revenue
-6350 (standard personal deduction)

$1,880
X .15 (self employement tax)

$282... give or take $1.00
+ your state/local taxes

Assuming you have no other taxable income.


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## AlexWalker90 (Apr 15, 2017)

Mears Troll Number 4 said:


> 22,000 miles at .535 a mile is..
> 
> $11,770 in deductible expenses
> 
> ...


I do have a w2 cause i worked at a restaurant for couple months. It's around 6k. Anyways, appreciate for all that information you gave me. At least now i have a estimate taxes to pay in my mind. It's awesome and thanks for all your afford


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## Jerry Zellmer (Mar 7, 2018)

Thanks for sharing the info.


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## SEAL Team 5 (Dec 19, 2015)

Mears Troll Number 4 said:


> 22,000 miles at .535 a mile is..
> $11,770 in deductible expenses
> $20,000
> -11,770
> ...


Not quite, you pay the 15.3% SE tax on your self employment net revenue before any 1040 Schedule A personal deductions. So
$8,230
X .153 (self employment tax)
$1260..... Is what you owe just for Social Security. Then you have to figure your personal income tax after that.


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## Eesoso (Jan 16, 2017)

My tax liability for Uber income alone was about 20% of gross after deductions, which is not that bad. When I had a regular job they took out more than a third. It just sucks that I have to pay it all at once.


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