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Never filed taxes before, any help is appreciated.

Discussion in 'Taxes' started by UberATLDriver, Jan 10, 2017 at 5:04 PM.

  1. UberATLDriver

    UberATLDriver New Member

    Location:
    Atlanta
    I tried driving for uber after I graduated college and decided to keep going while applying to companies near me. 6 months later I'm still driving for uber. In college I was working for cash under the table at my uncle in law's farm since high school but the agreement was that I have to stop working there once I was out of college so here I am. Basically I've never had to file taxes and any help is appreciated. I've been tracking down my miles since I started by recording my odometer when I start/stop work in a logbook, kept my gas, oil, and car wash receipts. I was planning on only deducting standard mileage. I am just unfamilliar with the process because I've never done it before so I don't know where to begin.

    I am just clueless about what form I fill out and send to the irs, where I can find out how much I owe, and extremely basic stuff like that. Any help is appreciated and thanks for not trolling me to to end.
     
    UberTaxPro likes this.
  2. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    This is what you'll use to report your business income and expenses. https://www.irs.gov/pub/irs-pdf/f1040sc.pdf
    You should also familiarize yourself with this form https://www.irs.gov/pub/irs-pdf/f1040sse.pdf
     
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  3. UberATLDriver

    UberATLDriver New Member

    Location:
    Atlanta
  4. Older Chauffeur

    Older Chauffeur Well-Known Member

    Location:
    Simi Valley Ca
    I'm a big fan of Turbo Tax. If you buy the CD format, Deluxe is all you need. Costco has it on sale until Jan 31 for $39.95 after an instant $10 rebate. If you use their online filing service you need a more expensive version to get Schedule C, the self employment profit/loss form. T/T walks you through the whole return with question about income and expenses.
    Congrats on keeping a mileage log. Most drivers find that the standard mileage rate allows a bigger write off than actual expenses, but with your receipts you will be able to choose which works best for you.
    Once you file, save a copy of your returns and the log/receipts in a safe place. T/T will also bring forward info from the prior year if you continue with their products.
    There are other software programs that will do everything T/T will do, I haven't tried them. Otherwise, there's always H&R Block, etc or a family member/friend who has previously filed tax returns.
    Lots of good info in this taxes forum from UberTaxProUberTaxPro and others. Good luck!
     
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  5. UberATLDriver

    UberATLDriver New Member

    Location:
    Atlanta
    Thank you, I'll head to costco tomorrow.
     

  6. UberATLDriver

    UberATLDriver New Member

    Location:
    Atlanta
    UberTaxPro likes this.
  7. UberATLDriver

    UberATLDriver New Member

    Location:
    Atlanta
    Am I allowed to add up booking fee, miscellaneous (fare), split fare and uber service commission into line 10 on Schedule C and deduct that alongside business miles?

    Thanks for the input guys, this really helps me a bunch. Hopefully I won't have any questions next tax season.
     
    UberTaxPro likes this.
  8. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    Schedule F is for farming businesses. Most likely you can start on line 2 if you qualify for the short form. If your net income on schedule C is less than $400 you won't owe anything on the SE.
     
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  9. Older Chauffeur

    Older Chauffeur Well-Known Member

    Location:
    Simi Valley Ca
    When you get into T/T it will do all that for you. Your 1099 should match your total deposits Uber made, after deducting the fees, etc they show. It will ask you line by line questions about your car and other expenses, so don't get ahead of yourself.;)
     
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  10. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    Yes, you could do that. It might be better to list some of the items out in Part V and then put the total from Part V on line 27a. Also, don't forget business % use of phone, cost of phone chargers, water and treats for pax and other expenses you might have other than vehicle expenses if you're using the standard mileage method.
     
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  11. UberATLDriver

    UberATLDriver New Member

    Location:
    Atlanta
    Does all of this only apply to federal tax returns? Do I have to file something different for my state as well?
     
  12. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    Of course you'll have state filings also. Don't you think Nathan Deal wants to get paid?:D
     
  13. RamzFanz

    RamzFanz Well-Known Member

    Location:
    Saint Louis
    I believe Miscellaneous Fare is income and not a deduction. The others are all deductions along with Uber Service Fee listed under Other Potential Deductions.

    Don't add them together, list them separately as line items with descriptions.
     
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