# RIDESHARE DRIVING GUARANTEED LOSS ON TAXES



## MulletMan (Mar 2, 2016)

I like it. The biggest reason I like it? Tax time. IRS gives you .54 / mile driven for work. If your costs are .36, you have a loss on paper. To keep it simple lets say you claim 10,000 miles on your tax return. THAT is a $5,400 deduction on your schedule C. However, you have only spent $3,600. In other words, all your uber money is tax free. You can look at it as if the other $1800 you save goes to reducing your tax liability on your 'real' job income ($1,800 at 25% tax rate is $450 directly in your pocket); so in a weird twisted way Uncle Sam is paying you to drive for Uber if you have an efficient car. Another reason I love my Prius C. Uber is awesome. Don't ask questions...just drive


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## renbutler (Jul 25, 2015)

In 2015, I had a small deficit on my taxes, but now that I'm driving only surges in 2016, I am tracking toward an actual reportable profit. I might stop when my taxable income from Uber reaches $400, because then you have to start paying payroll taxes on top of income taxes.


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## ABC123DEF (Jun 9, 2015)

Do profit and FOOber even belong in the same sentence?


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## renbutler (Jul 25, 2015)

If the word "small" is in front of "profit," and you also throw in the words "surge" and "low expenses," then yes.


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## MulletMan (Mar 2, 2016)

ABC123DEF said:


> Do profit and FOOber even belong in the same sentence?


I believe that if you have a reliable economical car that gets 30 mpg Plus and only drive surge you can make some money.


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