# Guide of some sort



## Michguy01 (Feb 13, 2016)

I am clueless as to how and what I should be keeping track of, hours, mileage, expenses etc...I've read through these forums and the more I read, the more confused I get, HA

Does anyone know of a sort of "Idiot's guide" to this.......I don't wanna be screwed next year at tax time.

Any help appreciated.


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## Older Chauffeur (Oct 16, 2014)

Michguy01 said:


> I am clueless as to how and what I should be keeping track of, hours, mileage, expenses etc...I've read through these forums and the more I read, the more confused I get, HA
> 
> Does anyone know of a sort of "Idiot's guide" to this.......I don't wanna be screwed next year at tax time.
> 
> Any help appreciated.


Keep a contemporaneous log of mileage and other expenses. I don't Uber, but I keep track of my business in a Day Planner, and total each month and year-to-date, making it easy to compile figures at tax time. Hours probably don't matter to anyone but you, and might be depressing. Note the odometer at the start and end of each shift during which the app is on.
At the current rates there in Detroit, your mileage alone (with and without pax-"dead miles") should offset your earnings to the point that you will have a minimum or no tax liability.
(Flint native)


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## UberTaxPro (Oct 3, 2014)

Michguy01 said:


> I am clueless as to how and what I should be keeping track of, hours, mileage, expenses etc...I've read through these forums and the more I read, the more confused I get, HA
> 
> Does anyone know of a sort of "Idiot's guide" to this.......I don't wanna be screwed next year at tax time.
> 
> Any help appreciated.


If you own or lease your own car you'll most likely want to use the "standard mileage dedcution". The SMD includes most of your expenses like gas, maintenance, insurance, depreciation, lease payments, oil, repairs and registration. To use the SMD you have to have a mileage log that you keep daily.
*The mileage log is the single most important thing that you can do for your rideshare business tax wise. * The mileage log more than anything else will save your butt at tax time. Limit your research to "mileage log" and get it started asap. It's actually easier to keep one mileage log than to keep track of gas, maintenance, insurance, depreciation, lease payments, oil, repairs and registration separately. The mileage log is your friend and makes your record keeping easy.


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## NachonCheeze (Sep 8, 2015)

There are free apps you can use to track your mileage and get monthly summaries


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## Michguy01 (Feb 13, 2016)

Awesome, thanks guys!

As far as mileage......do I only include "actual trip mileage" (aka I have a pax in my vehicle), or the mileage I accumulate throughout the day, including dead miles?


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## UberTaxPro (Oct 3, 2014)

Michguy01 said:


> Awesome, thanks guys!
> 
> As far as mileage......do I only include "actual trip mileage" (aka I have a pax in my vehicle), or the mileage I accumulate throughout the day, including dead miles?


You can include all "business miles". To me pretty much all miles with your app on and you're accepting pings or on a trip would be business miles.


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## Older Chauffeur (Oct 16, 2014)

Did he even read the posts?


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