# Is this breakdown of mileage deduction on taxes correct?



## FloridaUber (Feb 27, 2017)

I saw this posted in another thread but I wanted to make sure this is all I actually owe to this point...

Revenue (Income)
- Expenses (mileage deduction)
= Profit (what you pay tax on)
x Tax Rate (15.2 - self employed)
= Tax Due (cash you mail to the IRS)

I did this on my own, and got about $16 dollars owed to the IRS after standard mileage deduction.

Also if I estimate my total tax amount to be less than $1000 than I do not need to worry about making estimated quarterly payments correct?

Please keep in mind I have recorded all my miles, including dead miles. 

I am not a tax expert, so I'm trying to learn all I can...


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