# Confuse!!



## WhiteCam (Nov 6, 2017)

Hello all!!. 
I am starting to do some Uber in Richmond VA area, but I am worried about how to do the tax for it. I have read a lot of materials, but still, confuse a bit!. Is there a main threat will explain in detail how to do the tax by my self??.
Thanks.


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## Bob Driver (Sep 14, 2017)

WhiteCam said:


> Hello all!!.
> I am starting to do some Uber in Richmond VA area, but I am worried about how to do the tax for it. I have read a lot of materials, but still, confuse a bit!. Is there a main threat will explain in detail how to do the tax by my self??.
> Thanks.


I think the only persons qualified to explain in detail would be a local CPA. Getting information from a bunch of random people on a forum may not be your best choice. Some will give you great advice and some will just give you bunk.


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## WhiteCam (Nov 6, 2017)

Bob Driver said:


> I think the only persons qualified to explain in detail would be a local CPA. Getting information from a bunch of random people on a forum may not be your best choice. Some will give you great advice and some will just give you bunk.


Obviously true. Thanks!!.


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## UberTaxPro (Oct 3, 2014)

WhiteCam said:


> Hello all!!.
> I am starting to do some Uber in Richmond VA area, but I am worried about how to do the tax for it. I have read a lot of materials, but still, confuse a bit!. Is there a main threat will explain in detail how to do the tax by my self??.
> Thanks.


What exactly are you confused about?


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## Yulli Yung (Jul 4, 2017)

WhiteCam said:


> Hello all!!.
> I am starting to do some Uber in Richmond VA area, but I am worried about how to do the tax for it. I have read a lot of materials, but still, confuse a bit!. Is there a main threat will explain in detail how to do the tax by my self??.
> Thanks.


If it was me, I would concentrate on driving and making money and then taxes later own, assuming you make money in the first place.


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## UberTaxPro (Oct 3, 2014)

Bob Driver said:


> I think the only persons qualified to explain in detail would be a local CPA. Getting information from a bunch of random people on a forum may not be your best choice. Some will give you great advice and some will just give you bunk.


If you use a cpa be sure he/she specializes in taxes. Most cpa's don't specialize in taxes. Enrolled agents can practice before the irs and all of them specialize in tax.



Yulli Yung said:


> If it was me, I would concentrate on driving and making money and then taxes later own, assuming you make money in the first place.


I disagree. If you end up with a loss tax planning is just as important as with profit. Without tax planning and record keeping you could very easily end up paying taxes on money you never really earned. Driving Uber is starting a business, not a job.


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## WhiteCam (Nov 6, 2017)

UberTaxPro said:


> If you use a cpa be sure he/she specializes in taxes. Most cpa's don't specialize in taxes. Enrolled agents can practice before the irs and all of them specialize in tax.
> 
> I disagree. If you end up with a loss tax planning is just as important as with profit. Without tax planning and record keeping you could very easily end up paying taxes on money you never really earned. Driving Uber is starting a business, not a job.


I am confused from when I should start the tax return process. And it is required to keep receipts (as proofs) for everytime I spend a penny on gas or tires? Also what package in TurboTax will help me to do the tax.
Guys, my car is ready to start Uber, but I didn't start yet because I am worried about the tax return process. Thanks all!!.


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## UberTaxPro (Oct 3, 2014)

First, you need to choose one of two methods the irs offers for record keeping:
1. standard mileage deduction (SDS)
2. Actual expenses
Most are better off using SDS method. You can read about this here https://www.irs.gov/forms-pubs/publication-463

Whatever tax package you use needs to have *schedule c *included.

The single most important thing for you as a new "business owner' is to keep a mileage log. It will be your BFF at tax time.

It's always good to save receipts however using the SDS method can eliminate the need for many auto related receipts like gas and tires. I would suggest using a dedicated bank account or credit card/debit card for all business expenses. That way, all business expenses will be in one place.


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## WhiteCam (Nov 6, 2017)

UberTaxPro said:


> First, you need to choose one of two methods the irs offers for record keeping:
> 1. standard mileage deduction (SDS)
> 2. Actual expenses
> Most are better off using SDS method. You can read about this here
> ...


Thanks for helping me!!.
I have read many articles about tax prep for uber drivers. The problem that I know many small tips, but couldn't have a whole idea. Please let me know if there is an article about how to do the tax prep step by step.
Thanks again!!.


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## Bob Driver (Sep 14, 2017)

WhiteCam said:


> Thanks for helping me!!.
> I have read many articles about tax prep for uber drivers. The problem that I know many small tips, but couldn't have a whole idea. Please let me know if there is an article about how to do the tax prep step by step.
> Thanks again!!.


Here is a link from the source the IRS.
https://www.irs.gov/businesses/small-business-and-self-employed-tax-center
or/and
https://www.irs.gov/businesses/small-businesses-self-employed/filing-and-paying-your-business-taxes
and if you have state taxes their web site will have some information for you.


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