1. UberPeople.NET - Independent community of rideshare drivers. It's FREE to be a person and enjoy all the benefits of membership. Sign-up HERE!

It's 2017: IRS just lowered our std mileage deduction by 1/2 cent/mi

Discussion in 'Pay' started by Michael - Cleveland, Jan 9, 2017.

  1. Michael - Cleveland

    Michael - Cleveland Moderator Moderator

    Location:
    Great Lakes
    Driving:
    UberSELECT
    Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 53.5 cents per mile for business miles driven, down from 54 cents for 2016.

    2017 Standard Mileage Rates For Business
     
    Last edited: Jan 9, 2017
    tohunt4me likes this.
  2. Jufkii

    Jufkii Well-Known Member

    Location:
    cedar rapids
    Driving:
    UberX
    In spite of rising gas prices and the rising cost of anything car related. Nice
     
    Trump Economics likes this.
  3. renbutler

    renbutler Well-Known Member

    Location:
    Indy North Suburbs
    Driving:
    UberXL
    Holy crap, people aren't going to ***** about a 0.5-cent decrease, are they?
     
  4. Jufkii

    Jufkii Well-Known Member

    Location:
    cedar rapids
    Driving:
    UberX
    I will ***** about anything that further cuts into my declining profits big or small.Refuse to operate at a loss which in m city is harder and harder to do. Not that Uber cares of course.
     
    JustDre likes this.
  5. Michael - Cleveland

    Michael - Cleveland Moderator Moderator

    Location:
    Great Lakes
    Driving:
    UberSELECT
    If you don't like the std deduction, use your actual expenses to claim your deduction and see how that goes. :)

    You've likely heard the catch phrase: "Business Do Not Like Uncertainty".
    The IRS is not in the 'guessing game' - it provides information to businesses so they can plan and budget - and know what to expect. That is why the IRS std mileage deduction is based on the current and PAST year's historical price of fuel/ins/depreciation. The 2018 std deduction will be based on 2017's actual costs.

    IMO, we're fortunate the IRS didn't reduce the std deduction a lot more than just a half penny per mile.
     
    MrPincushion and renbutler like this.

  6. renbutler

    renbutler Well-Known Member

    Location:
    Indy North Suburbs
    Driving:
    UberXL
    The part in bold is fair, but blaming the IRS for a half-cent reduction sounds pretty lame. Your issues run far deeper than that.
     
    Shangsta and Michael - Cleveland like this.
  7. MSUGrad9902

    MSUGrad9902 Well-Known Member

    Location:
    Rochester
    Your title is misleading. It's a 1/2 cent per mile reduction, not a five cent per mile change. $5 difference per 10,000 miles traveled in the deduction, which amounts to about $1.50 in additional taxes per 10,000 miles driven. This will change add about $10 total to my tax liability for 2017 if I drive the same amounts as 2016.

    We need to shut down the IRS.
     
  8. Michael - Cleveland

    Michael - Cleveland Moderator Moderator

    Location:
    Great Lakes
    Driving:
    UberSELECT
    Right you are - a typo from when I changed it to the $ amount from the %.
    CORRECTED! (thanks)
     
  9. MSUGrad9902

    MSUGrad9902 Well-Known Member

    Location:
    Rochester
    The IRS is out of control, but this change seems fairly innocuous.
     
    Shangsta likes this.
  10. Michael - Cleveland

    Michael - Cleveland Moderator Moderator

    Location:
    Great Lakes
    Driving:
    UberSELECT
    IMO, it's the tax code (and Congress) that's out of control - not the IRS.
     
  11. Jufkii

    Jufkii Well-Known Member

    Location:
    cedar rapids
    Driving:
    UberX
    Not blaming the IRS at all. It is what it is and was kind of expecting it.. Just venting a bit that in my year and a half of driving the job has morphed into a death by a thousand cuts scenario. Every change,significant or not,has been for the worse.The IRS change is yet another little blow to drivers, small,insignificant,as this particular one may be. Won't matter much,I'll be hanging up the keys for good if the rumored,but only rumored,Jan rates cuts actually happen again. Not reliant on this "side hustle".Good luck.
     
  12. Shangsta

    Shangsta Well-Known Member

    Location:
    Seattle
    The deductiom was generous as it is. If this is what makes or breaks driving for you it is probably time for a new gig.
     
    Andretti likes this.
  13. MSUGrad9902

    MSUGrad9902 Well-Known Member

    Location:
    Rochester
    OK - I should say the GOVERNMENT is out of control. Better?
     
    renbutler likes this.
  14. jester121

    jester121 Well-Known Member

    Location:
    Chicago
    Strange... I don't recall anyone here lamenting that the deduction was too high when gas prices slipped well under $2/gallon for a month or two recently.
     
  15. tohunt4me

    tohunt4me Well-Known Member

    Location:
    new orleans , la.
    It's only 1/2¢. This time.
    Govt. Will always find ways to maintain Revenue.
     
  16. tohunt4me

    tohunt4me Well-Known Member

    Location:
    new orleans , la.
    Since you feel badly about that,the I.R.S. will accept contributions from you. There is no law against you donating to Govt.
     
  17. tohunt4me

    tohunt4me Well-Known Member

    Location:
    new orleans , la.
    Besides,Canada just adopted the " Carbon Tax".
    1/3 of the Globalists"UNION OF THE AMERICAS" has now adopted this scheme. Your turn to pay Globalists tax is coming soon.
     
  18. Jufkii

    Jufkii Well-Known Member

    Location:
    cedar rapids
    Driving:
    UberX
    Rest assured this little blip is not breaking me. Dealing with Support on a daily basis however just might. Another topic though
     
    Michael - Cleveland likes this.
  19. Mears Troll Number 4

    Mears Troll Number 4 Well-Known Member

    Location:
    Orlando-ish
    Driving:
    Taxi
    the .5 a mile is insignificant. It comes to like $2-$3 a day for my market. Compared to uber playing it's game with taking half the trip that's nothing.
     
  20. Michael - Cleveland

    Michael - Cleveland Moderator Moderator

    Location:
    Great Lakes
    Driving:
    UberSELECT
    just to be clear, it's not $0.5, or even $0.05... it's $0.005. (I know that's what you meant).
    And for someone who drives 1,000 miles/week, the difference is a loss of $5/wk in the deduction.
     

Share This Page