# Quickbooks Self Employed doesn't work with Uber Visa??



## 142605 (Mar 4, 2018)

Setting up Quickbooks Self Employed and was shocked that it works with every bank account except the Uber Driver Visa / GoBank account. How dumb is that?


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## UberTaxPro (Oct 3, 2014)

Authority said:


> Setting up Quickbooks Self Employed and was shocked that it works with every bank account except the Uber Driver Visa / GoBank account. How dumb is that?


"Yes! Two questions...
I'll answer this question here...that other thread is over 2 years old and UberPissed is nowhere to be found.

1) . Does a new car ever make sense with deprecation write off? 
It's possible with the right set of circumstances but for most Uber drivers no. With bonus depreciation and section 179 it might be tempting, but when you consider depreciation recapture down the road, it doesn't look as good. Depreciation with vehicles has limits. With the SMR about .23 per mile is for depreciation for as many miles as you drive with no limits.

2). Can losses driving for Uber offset tax debt / liens from past years?" 
In the past you could take an NOL (net operating loss) back two years, with the new tax law that option is gone. Starting in 2018 you can only take losses for the current year or carry them forward to future years.

The quickbook bank thing...yep that is dumb! Hopefully it will be included soon.


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## 142605 (Mar 4, 2018)

Thanks. I guess I'll just go with Stride until QuickBooks / Go Bank gets fixed?

I'd like to explore the car thing more. What's the "right" set of circumstances? Let's say you have a day job and Uber is additional income (or loss as the case may be). Is that where it could make sense?


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## UberTaxPro (Oct 3, 2014)

Authority said:


> Thanks. I guess I'll just go with Stride until QuickBooks / Go Bank gets fixed?
> 
> I'd like to explore the car thing more. What's the "right" set of circumstances? Let's say you have a day job and Uber is additional income (or loss as the case may be). Is that where it could make sense?


No. Someone with a fleet of vehicles doing this full time and planning on being in this for at least 5 years might want to consider using the actual expense method. Part timers should stick with the mileage method in general. There could be some rare circumstance like unforeseen health expenses and you need to keep your income below a point to qualify for medicaid for that particular year and using section 179 and bonus depreciation will keep you under the income level.


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## AdrianG001 (Oct 1, 2018)

Authority said:


> Setting up Quickbooks Self Employed and was shocked that it works with every bank account except the Uber Driver Visa / GoBank account. How dumb is that?


It is best accessible when accessed by Hosting QuickBooks on citrix vdi for enhanced performance and remote accessibility.

Regards,
Adrian Gates


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## Stevie The magic Unicorn (Apr 3, 2018)

UberTaxPro said:


> No. Someone with a fleet of vehicles doing this full time and planning on being in this for at least 5 years might want to consider using the actual expense method.


You can't use mileage if your a fleet owner (5+ cars), gotta do actual expense in that case

(The actual verbiage from the IRS)

_You must not operate five or more cars at the same time, as in a fleet operation,_


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