Reply to I am a DC uberX driver since 2013 and have SEEN IT ALL...so please, AMA

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Reply to "I am a DC uberX driver since 2013 and have SEEN IT ALL...so please, AMA"

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[quote=Anonymous][quote=Anonymous]do you have a good tax guy to help you with your 1099 write-offs??  form a LLC or C corp?[/quote]

I am the good tax guy.  I paid ~11% last year in federal income taxes on a high 5-digit net income, helped greatly by maxing a 401k, traditional IRA, and an SEP-IRA. I only claim my mileage and cell phone usage at 40% (reality 90%) as write-offs.  But the miles really add up as the mileage deduction for 2016 is 54¢/mile. I count my mileage from either from the time I leave the parking lot at work to give rides in the evening back to my house or I count it from driveway back to driveway on the weekends.  On about $30,000 of uber income, write-offs could go as high as $12-15k.  54¢ is less than last year, but my operating costs are about 29¢/mile nowadays, so that's a "free" quarter of untaxed income on every mile I drive for uber.  This is that sweet spot when your uber car is a little older, paid-off, and still in good shape and a smooth ride...it literally pays you to go out and give rides as much as possible.  On the other hand, I have no clue how people driving huge $50k+ trucks and SUVs are making any money doing this.  You have to be quick, safe, and efficient with the car to make the most of it.   And I run everything as a sole proprietorship and file W-2 and 1099 income on the same return.

[quote=Anonymous]cool, I need a bethesda to BWI ride with a car seat Wednesday at noon.  Should I supply the car seat (& take to grandmas) or do you have one?[/quote]

You can bring your own car seat, but getting a car with a car seat installed is also an option (you might have to wait a bit longer for this setup): [img]http://i.imgur.com/vswNfZa.jpg[/img]

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