# Are instant payout fees tax deductible?



## itendstonight (Feb 10, 2019)

I make use of the instant payoff quick a bit and it adds up. Are these tax deductible?! Would hate to pay a tax on these stupid fees!


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## UberTaxPro (Oct 3, 2014)

itendstonight said:


> I make use of the instant payoff quick a bit and it adds up. Are these tax deductible?! Would hate to pay a tax on these stupid fees!


Yes the .50 charged on their end is a business expense and deductible. As a general rule, remember that bank fees from personal bank accounts are not deductible, fees from business accounts are deductible.


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## Launchpad McQuack (Jan 8, 2019)

UberTaxPro said:


> Yes the .50 charged on their end is a business expense and deductible. As a general rule, remember that bank fees from personal bank accounts are not deductible, fees from business accounts are deductible.


Do you have to have a dedicated business account? What if your Uber earnings are deposited into your personal bank account?


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## UberTaxPro (Oct 3, 2014)

Launchpad McQuack said:


> Do you have to have a dedicated business account? What if your Uber earnings are deposited into your personal bank account?


It is still a business expense whichever account the deposit is made to.


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## itendstonight (Feb 10, 2019)

UberTaxPro said:


> It is still a business expense whichever account the deposit is made to.


Here is a situation I get into a lot. I live close to work. So I put a destination filter. I turn the app on at work and turn off at home. UBER records it as on app. I half the time I get a min or a little longer ride. Other half, no ride. But app was on and I was ready to accept a destination ride if offered. Can I deduct those miles? How do I record it? Date, start/end odometer and state no ride was offered?


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## Donnypena (Jan 5, 2020)

itendstonight said:


> Here is a situation I get into a lot. I live close to work. So I put a destination filter. I turn the app on at work and turn off at home. UBER records it as on app. I half the time I get a min or a little longer ride. Other half, no ride. But app was on and I was ready to accept a destination ride if offered. Can I deduct those miles? How do I record it? Date, start/end odometer and state no ride was offered?


You can deduct 52 cents a mile
a mile


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## itendstonight (Feb 10, 2019)

Donnypena said:


> You can deduct 52 cents a mile
> a mile


2019 it's .58$ I'm sure


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## dgates01 (Jun 24, 2018)

itendstonight said:


> I make use of the instant payoff quick a bit and it adds up. Are these tax deductible?! Would hate to pay a tax on these stupid fees!


Get Uber's driver debit card. There is no fee for the card at all. You get up to 5 instant payouts a day for no charge.


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## LADryver (Jun 6, 2017)

UberTaxPro said:


> Yes the .50 charged on their end is a business expense and deductible. As a general rule, remember that bank fees from personal bank accounts are not deductible, fees from business accounts are deductible.


Fees from personal accounts from business purposes are deductible. You are not required to have a business bank account. The fees for the transfer are fees paid and recorded through Uber. They are verified business expenses.



dgates01 said:


> Get Uber's driver debit card. There is no fee for the card at all. You get up to 5 instant payouts a day for no charge.


You can also make free cash deposits at Wal-Mart to the card.


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