Course details
Taxes for Uber, Lyft, and Sidecar drivers are handled differently than what most full time workers are used to. Since we are now considered self employed contractors, we are now responsible for own taxes, including payroll deductions for Social Security and Medicare.
This course has many tips on taxes and goes over one of the most common tax deduction, which is mileage. It also covers instances where you want to deduct expenses, but its not recommended unless your… + Read More
Course details
Taxes for Uber, Lyft, and Sidecar drivers are handled differently than what most full time workers are used to. Since we are now considered self employed contractors, we are now responsible for own taxes, including payroll deductions for Social Security and Medicare.
This course has many tips on taxes and goes over one of the most common tax deduction, which is mileage. It also covers instances where you want to deduct expenses, but its not recommended unless your car's depreciation is high or have more than 4 vehicles in your fleet. For most drivers, deducting your mileage on your vehicle with the proper records is the easiest way to reduce your tax liability.
Also included in this course is a detailed video on how to file your taxes with Turbotax Home and Business!
Here is the list of items it covers:
- Do Lyft and Uber Drivers Pay Taxes?
- What about Quarterly Estimated Taxes?
- Introduction to Rideshare Taxes
- Tax Deductions and Calculations for Rideshare Drivers
- The 1099 Form
- Taxes: The Schedule C
- Taxes: IRS 1040-ES
- The Schedule SE
- Deduct Mileage, Lease Payments or Car Expenses?
- Section 179 Deduction For Expense-Based Calculations
- The Best Kept Secret in Rideshare Taxes
- How to File your Taxes with Turbotax Home and Business (Video Walkthrough)
Updated on 27 December, 2017 - Read Less
