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How Are You Tracking Miles for Taxes??

Discussion in 'Taxes' started by skytessa, Dec 12, 2016.

  1. Danny3xd

    Danny3xd Well-Known Member

    Location:
    Hartford
    I know it's been said but bears repeating. Can't go wrong going to a local tax professional. We should all consider this a conversation and not actual advice or what anyone should or should not do. Except for keep a log on paper. Or have an app or program that can be downloaded & printed /emailed.

    Each one of us has a different exact circumstance. So our tax liability or lack thereof, is gonna be different.

    I think I added to some confusion due to my paranoia. That's just a personality quirk of mine but my apologies.

    But if someone is not understanding your "advice" or thoughts. There is no need to be insulting.

    The whole subject of taxes, especially for someone facing 1099s for the first time can be very intimidating and we all need to be kind and patient. Or just skip their posts.

    Lyft and uber offer discounts on software and help filing.
     
    Last edited: Dec 20, 2016
    UberTaxPro likes this.
  2. Can you pay TurboTax and let them do your taxes? or is going to a real Tax Pro is better?
     
  3. Danny3xd

    Danny3xd Well-Known Member

    Location:
    Hartford
    CaptRonRico likes this.
  4. Danny3xd

    Danny3xd Well-Known Member

    Location:
    Hartford
    Did you look at this, Ubertaxpro? Not meaning to put ya on the spot, just wondering what ya thought.
     
  5. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    Look at what turbotax?
     

  6. Danny3xd

    Danny3xd Well-Known Member

    Location:
    Hartford
    The link I posted, UTP. Just wondering what ya thought if ya had.

    https://turbotax.intuit.com/best-tax-software/common-questions.jsp

    I normally use the free ones, but if this is easer or in any way advantages, I might give it a try.
    --------------------------------------------------------------------------------------

    Just really looked at your avatar. Dang, Not a happy puppy
     
    UberTaxPro likes this.
  7. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    Whatever you use you're gonna need a version that has schedule c capabilities for Uber income. Older ChauffeurOlder Chauffeur has the scoop on these intuit products I believe. Hopefully he'll chime in.
     
  8. Older Chauffeur

    Older Chauffeur Well-Known Member

    Location:
    Simi Valley Ca
    I don't know about their online software, but the ones on CD for home use have Schedules C and SE in the Deluxe version. It's usually on sale at Costco with a built in rebate, final price last year was $39.95 and it's all you need for filing as an IC.
     
    UberTaxPro likes this.
  9. UberSelect07

    UberSelect07 New Member

    Location:
    Chicago
    Driving:
    UberSELECT
    I use MyRideTrac. Tracks my rider and empty mileage as well as all of my expenses. I send my tax man a spreadsheet that it prepares for me when I send a report. It's 1.99 per month which is cheaper than the other guys and they don't track me for insurance like some of the free guys.
     
  10. skytessa

    skytessa New Member

    Location:
    Los Angeles
    Yeah. This saved me a ton last year. Alternatively, I had a CPA tell me to stop at a Starbucks near my house to "plan my day", and/or get a mailbox nearby for business purposes. That way you can swing by those places and start your business miles/day earlier.
     
    UberTaxPro likes this.
  11. El Gato

    El Gato Active Member

    Location:
    Cedar Park
    Driving:
    UberX
    Questionon on commuting miles.

    I get what is a commuting mile is and cannot be deducted. However, the IRS does say that you can deduct commuting miles to a second job. I'm sure many people are like me and drive for Uber on top of a regular full time job. I usually go online after getting off my primary job. This is a second job, so these miles, while they are commuting miles, are considered deductible by the IRS?

    https://www.irs.gov/publications/p463/11081l02.gif-315423875.html
     
    UberTaxPro likes this.
  12. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    Yes, with the appropriate records. You should also have a valid business reason for going where you go....like "all the bars are on that side of town" etc...
    If you want to be able to claim some miles from your home and back look into establishing a home office when you file your taxes.
     
  13. If you work both for Uber and Lyft, do you do Taxes for them separately? or can you combine both?
    Also, anyone minds posting their Mile deduction for your last year?
     
  14. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
  15. Older Chauffeur

    Older Chauffeur Well-Known Member

    Location:
    Simi Valley Ca
    You would list income and expenses from both on the same Schedule C, as profit or loss from self employment.
     
  16. Fuzzyelvis

    Fuzzyelvis Well-Known Member

    Location:
    houston
    Driving:
    UberX
    Pen and paper since 1991.
     
    LAuberX likes this.
  17. What about the Miles Deduction? Can i combine the total miles from both?
     
  18. DriverX

    DriverX Well-Known Member

    Location:
    Earth
    Driving:
    UberX
    LOL my odometer minus 10%
     
  19. Older Chauffeur

    Older Chauffeur Well-Known Member

    Location:
    Simi Valley Ca
    You'll do that with the vehicle calculation work sheet- business vs personal miles and total miles for the year. Keep a mileage log showing all your rideshare activities.
    TurboTax Deluxe has everything you need, and is available in CD format (which I suggest) or online. Any program you use must have Schedules C and SE. TurboTax will walk you through the process by asking you questions, and will check for errors at the end. Costco sells it for about $40 after an instant rebate.
     
  20. Mears Troll Number 4

    Mears Troll Number 4 Well-Known Member

    Location:
    Orlando-ish
    Driving:
    Taxi
    I hope you have a log that reflects that come audit time...
     
    Dback2004 likes this.

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