# Paying your taxes yet? From your Uber or Lyft earnings?



## UberCemetery (Sep 4, 2014)

Its important to put money aside to pay your taxes. Who is paying the government with estimated payments monthly? Quarterly - etc? or just waiting to see how much you owe on April 15th?


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## Sydney Uber (Apr 15, 2014)

This may not be a popular thread!


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## UberCemetery (Sep 4, 2014)

I know because I bet most people are just waiting till April 15th, for the big surprise.


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## LAuberX (Jun 3, 2014)

Lately I have been driving 1.8 miles for every dollar "earned" after Uber's cut.

What profit?

$1.10 x .8 = .88 per mile paid to me after Uber's cut

1.8 x .56 standard mileage deduction = $1.00 in expenses per dollar earned.

Zero tax liability going forward with the new rates.

Sad to see it in black and white...


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## UberCemetery (Sep 4, 2014)

LAuberX said:


> Lately I have been driving 1.8 miles for every dollar "earned" after Uber's cut.
> 
> What profit?
> 
> ...


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## duggles (Aug 25, 2014)

I'd be curious if anyone has informed information on this topic.


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## UberCemetery (Sep 4, 2014)

Spoke to Uncle Sam he provided these links.

http://www.irs.gov/publications/p505/ch02.html

http://www.irs.gov/pub/irs-pdf/p4849.pdf


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## UberPissed (Aug 13, 2014)

I can help with tax Q's as well...I am a tax professional.


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## AustinLOBO (Sep 4, 2014)

I'm driving Uber as a second job. So I'm estimating how much I would owe for two weeks driving, and inceasing the withholding for my primary job appropriately. Its easier that paying uneven estimated payments and possibly having to file Form 2210.


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## UberPissed (Aug 13, 2014)

AustinLOBO said:


> I'm driving Uber as a second job. So I'm estimating how much I would owe for two weeks driving, and inceasing the withholding for my primary job appropriately. Its easier that paying uneven estimated payments and possibly having to file Form 2210.


Good strategy.


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## OldTownSean (Aug 14, 2014)

With the miles I can claim and my tiny earnings I can easily report a loss. I won't though ... will just report a tiny plus. No tax liability and no red flags to the IRS that you get when reporting a loss.


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## MKEUber (Aug 20, 2014)

UberPissed said:


> I can help with tax Q's as well...I am a tax professional.


I got a question, even though my tax deductible mileage will be more then what I make with Uber and I will owe no federal taxes, don't I still have to pay Social Security and Medicare on my earnings? So for this reason, we should all still be paying the IRS quarterly, right?

For example, when in the military serving in a combat zone, my pay was tax free. But I still had to pay SS and Medicare each month and I did not get that back at the end of the year.


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## OldTownSean (Aug 14, 2014)

MKEUber said:


> I got a question, even though my tax deductible mileage will be more then what I make with Uber and I will owe no federal taxes, don't I still have to pay Social Security and Medicare on my earnings? So for this reason, we should all still be paying the IRS quarterly, right?
> 
> For example, when in the military serving in a combat zone, my pay was tax free. But I still had to pay SS and Medicare each month and I did not get that back at the end of the year.


No. No income = no medicare or social security either. Business tax is based on net, not gross.

I would not report a loss though unless you are comfortable with inviting an audit.


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## Oc_DriverX (Apr 29, 2014)

MKEUber said:


> I got a question, even though my tax deductible mileage will be more then what I make with Uber and I will owe no federal taxes, don't I still have to pay Social Security and Medicare on my earnings? So for this reason, we should all still be paying the IRS quarterly, right?
> 
> For example, when in the military serving in a combat zone, my pay was tax free. But I still had to pay SS and Medicare each month and I did not get that back at the end of the year.


You will owe self employment taxes on your net profit. If you don't have any profits, you won't owe SS or Medicare on them, nor income taxes. It is something to keep in mind, however.


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## Sydney Uber (Apr 15, 2014)

OldTownSean said:


> With the miles I can claim and my tiny earnings I can easily report a loss. I won't though ... will just report a tiny plus. No tax liability and no red flags to the IRS that you get when reporting a loss.


Hey Old Town! What about registering as a Charity (keeping youngsters safe and driving them home at a loss - easily proven). Then registering as a Church and get all the Tax benefits that a flock of worshippers generate for you by tallying up all your likes on this forum and have us sign up as followers! Lol


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## Woody Mornings (Aug 15, 2014)

Anyone here get a 1099 last year?


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## Emmes (Aug 27, 2014)

I'd like to hear from someone who filed UBER/LYFT taxes for 2013 in 2014 myself. Someone who received a 1099. Someone who paid quarterly taxes or opted to file at the end of the year. Someone who worked this PART TIME and who wasn't an LLC or Corp. Just a regular person working this part time with no dependents.


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## UberPissed (Aug 13, 2014)

Emmes said:


> I'd like to hear from someone who filed UBER/LYFT taxes for 2013 in 2014 myself. Someone who received a 1099. Someone who paid quarterly taxes or opted to file at the end of the year. Someone who worked this PART TIME and who wasn't an LLC or Corp. Just a regular person working this part time with no dependents.


PM me if you want specific info. I can give you all of the metrics if you give me just a small amount of info.


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## UberPissed (Aug 13, 2014)

The bigger issue will be with substantiation. You may be able to have a loss, but the IRS has filters in place, one of which is car & truck expenses, which have high audit probability. So the issue isn't whether you can claim a loss on your return, rather if it will stand up in an audit... In other words, keep good records. Daily mileage log. Document everything. 

Again, meals are not deductible for most situations, and parking / speeding tickets are not as well.


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## painfreepc (Jul 17, 2014)

LAuberX said:


> Lately I have been driving 1.8 miles for every dollar "earned" after Uber's cut.
> 
> What profit?
> 
> ...


$1.00 is what the IRS allows you as a tex deduction for driving that 1.8 miles,
it's not your every day cost to drive 1.8 miles.


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## Droosk (Sep 1, 2014)

Just as an additional point to what others have said. Your IRS deduction is more than just what is on your Uber mileage statement. You get to claim any miles driven while heading to a fare, or en route to where you plan to "work".

Example: I get in my car at home, go online, and write down my mileage at that point. I proceed to drive 4 miles to my normal staging point. Those 4 miles are deductible.
Example: I drop of a passenger, go online, and as I'm pulling away immediately get another ping for someone 3 miles away. Those 3 miles are deductible.

Etc etc etc. As long as you're driving for the purpose of Uber, its deductible. Don't just track the trip miles, track EVERYTHING.


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## sfdriver1896 (Aug 28, 2014)

on my camry i use the trip button/mileage button as soon as i go online in front of my house. anytime i drive i just reset the button to zero and keep a spreadsheet at home with all my miles, amount of time i work, money made so when tax time comes i have it all down. then i will do expenses vs .56 cent per mile and find out which one is higher.


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