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Breakdown Earnings for Seattle UberX

Discussion in 'Pay' started by BlackDog, Sep 7, 2015.

  1. BlackDog


    I just sat down to figure out exactly what I made the last week in August 2015. Kinda sad. Each week does vary and will be interested to see how my taxes turn out for 2015

    I was hoping you could share your rough breakdown.

    Deposited into my account $ 942.80 (20% already deducted)

    Hours online 43.4

    Total miles driven 953 x . 40 cents per mile = $ 371.87 cost to drive vehicle 953 miles.

    942.80 - 371.87 = 570.14 / 43.4 hours = $ 13.14 dollars per hour before deduction and taxes

    When filing taxes you can take off .57 cents per mile from your profit before paying roughly 15% in taxes

    942.80 - 543.21 = 399.59 is taxable - 15 % = About 60 dollar in taxes

    Note: I have no idea the % the City of Seattle wants. Anyone know?

    So $ 510.93 / 43.4 hours = $ 11.77 dollars per hour take home.

    Now I put a price of freedom of working my own hours and enjoying the passengers. That has to be worth at least something.

    I drive a vehicle that gets about 25 miles per gallon with gas figured at 3.25 per gallon (so it cost about .15 cents a mile to drive) I know... I should drive a Prius.
    According to AAA average vehicle maintenance for oil, tires, repairs is .05 cents per mile
    Initial cost of vehicle 30,000 is roughly .15 cents per mile if you paid cash and .28 cents per mile if you have a 5 year loan
    So I pay about .40 cents per mile to drive

    My math might be a little off... not 100% sure I did the tax deduction or % correct. Sorry.

    Even if you only work part time it still breaks down roughly the same.
    BostonTaxiDriver likes this.
  2. Isn't minimum wage $15 in Seattle now?
    One trick I do for my other business is buy shirts with my logo on it. You can deduct that as "advertising expense". If you have a personal business name and logo (not Uber), I don't see why you couldn't do the same when driving Uber.
  3. UberXking


    Hours online has nothing to do with real hours working unless you never turn your phone off. Which is a mistake
    miles seem low for your income. Why don't you post a copy. I paid H&R block 400% more than I paid in taxes

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