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Trump Economics

Well-Known Member
After Lyft's commission, I'm making about $10/hour -- $7 after taxes and expenses. Oh, and did I mention I live in Los Angeles?

Hold up -- I have enough money to buy Subway! $6 footlong, here I come! Wait, if I can't afford to pay my rent, where do I eat it?

Too bad I'm not a new driver making venture capital money.

Lyft, may your bus-service-demise be long and painful, you POS.

IMG_1180.JPG
 

tohunt4me

Well-Known Member
After Lyft's commission, I'm making about $10/hour -- $7 after taxes and expenses. Oh, and did I mention I live in Los Angeles?

Hold up -- I have enough money to buy Subway! $6 footlong, here I come! Wait, if I can't afford to pay my rent, where do I eat it?

Too bad I'm not a new driver making venture capital money.

Lyft, may your bus-service-demise be long and painful, you POS.

View attachment 100127
They're next.
Uber has enough scandals.
 

JimS

Well-Known Member
After Lyft's commission, I'm making about $10/hour -- $7 after taxes and expenses. Oh, and did I mention I live in Los Angeles?
Nice that you sensationalize to the tune of 30%. And guess what? You'll probably not pay a dime in taxes.
 

JimS

Well-Known Member
That's why I just finished paying thousands. Good call, smart guy.
Wow. You talk about how little Lyft pays. Every single thread in the Lyft room includes at least one post from you about how much Lyft sucks. And you paid THOUSANDS in taxes? Either you're not very tax saavy, or you're doing VERY well - presumably on LyftPlus or Premium perhaps? Or another job? My Uber/Lyft losses have helped reduce my tax burden from my $100k day job.

Of course, if you're used to rounding $13 down to $7, I suppose I can see why.
 

Trump Economics

Well-Known Member
  • Thread Starter Thread Starter
  • #6
When you don't pay any taxes in CA for an entire year, you tend to owe money. When you can't afford health insurance because you make less than minimum wage, you tend to owe money.

Cheers
 

sfodriver

Active Member
And you paid THOUSANDS in taxes? Either you're not very tax saavy, or you're doing VERY well - presumably on LyftPlus or Premium perhaps? Or another job? My Uber/Lyft losses have helped reduce my tax burden from my $100k day job.
Not sure you fully understand how income taxes work. You will only pay $0 in income tax if you have have no income. They only way you can arrive at $0 income is to have no income or offset your income with deductions. You cannot arrive at $0 of income and yet have survived for a year unless you have claimed deductions that are ineligible.

Anyone that is filing jointly with a spouse is likely to have to pay income tax. Anyone that is using ridesharing losses as a deduction but has another source of income is going to be paying taxes.

Let me point out that there's this other thread in the SF forum where drivers continue to be in denial but the deniers never have hard facts on hand (a familiar story these days).

https://uberpeople.net/threads/just-did-my-taxes-gross-85k-net-32k-10-hr.144933/
 

JimS

Well-Known Member
Not sure you fully understand how income taxes work. You will only pay $0 in income tax if you have have no income. They only way you can arrive at $0 income is to have no income or offset your income with deductions. You cannot arrive at $0 of income and yet have survived for a year unless you have claimed deductions that are ineligible.

Anyone that is filing jointly with a spouse is likely to have to pay income tax. Anyone that is using ridesharing losses as a deduction but has another source of income is going to be paying taxes.

Let me point out that there's this other thread in the SF forum where drivers continue to be in denial but the deniers never have hard facts on hand (a familiar story these days).

https://uberpeople.net/threads/just-did-my-taxes-gross-85k-net-32k-10-hr.144933/
I don't think you can read.

I make a lot of money at my day job. I pay a LOT of taxes. My losses driving Uber reduce the amount of money I make at my day job.

If someone ONLY drives for Uber (particularly X), it is nearly impossible to make more money than the deductions would show, resulting in a NET INCOME of 0. Or less.
 
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