# how do I file taxes and how much should I expect to pay?



## Urbanappalachian (Dec 11, 2016)

Let's say I made $50K a year doing Uber, as an indie contractor, what form should I use to file taxes and how much should I expect to pay IRS? I'm in Baltimore, MD.


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## SEAL Team 5 (Dec 19, 2015)

Urbanappalachian said:


> Let's say I made $50K a year doing Uber, as an indie contractor, what form should I use to file taxes and how much should I expect to pay IRS? I'm in Baltimore, MD.


You need 1040 Schedule C and SE. Depending on your market you could have a zero tax liability. Keep a log for all rideshare miles. Keep receipts for all maint/repair on vehicle. Deduct any phone/wireless charges. Deduct any upgrades to your vehicle. Deduct any pax comps (water, mints etc). Deduct portion of residence for home office/garage kept vehicle. 
Ask Uber Tax Pro for advice. He's very knowledgeable with taxes.


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## Older Chauffeur (Oct 16, 2014)

What, you're going from $500 to $50,000 overnight? Please share your secret plan.
From your previous thread, which answered the same question with the same basic answer:
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"I started late last year and I think made less than $500, must I still file taxes?"
Answer:
"It depends on several things- your income and withholding from other sources, if any; your filing status; eligibility for the EIC and other credits, to name a few.

If you have a regular W2 job, and are required to file, and are asking if you need to report rideshare income, the answer is YES. All income has to be reported. But if that's all you made from rideshare, and you kept track of mileage accrued doing it, that income should have no significant impact on your tax return. The income and expenses are reported on Schedule C, Profit and Loss from business, along with Schedule SE, self employment if needed."

Disclosure: I'm not a tax professional.


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## steveK2016 (Jul 31, 2016)

SEAL Team 5 said:


> You need 1040 Schedule C and SE. Depending on your market you could have a zero tax liability. Keep a log for all rideshare miles. Keep receipts for all maint/repair on vehicle. Deduct any phone/wireless charges. Deduct any upgrades to your vehicle. Deduct any pax comps (water, mints etc). *Deduct portion of residence for home office*/garage kept vehicle.
> Ask Uber Tax Pro for advice. He's very knowledgeable with taxes.


I hear this is a pretty solid red flag for audits....


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## Subjugator (Jun 22, 2016)

Keep it simple, don't use home office deduction or try to use square footage of vehicle sitting in garage. Also if you are paying a parking monthly fee for parking your car at home that is not deductible, but paying parking feees while on the road is.


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## UberTaxPro (Oct 3, 2014)

steveK2016 said:


> I hear this is a pretty solid red flag for audits....


In 2013 the IRS came out with the "safe-harbor method" of deducting a home office. One benefit of having a home office is that it can make your miles to and from the home office deductible as business expenses. The max deduction is $1500.

"The new *safe*-*harbor method*, released in Rev. Proc. 2013-13, allows individual taxpayers to calculate a home office deduction by multiplying the allowable square footage of the home office by $5. The allowable square footage is the area of the house used for qualified business use, but not to exceed 300 square feet."


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## leosc (Sep 27, 2014)

It's up to you. ^^


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