I just don't think there is a broad simple answer here. Tax wise I don't see it. We can deduct a lot of the maintaince and expenses. That you don't get in most 9 to 5 jobs. I still think you end up with more in your pocket with Rideshare in this comparison by a lot. On the other hand does the 9 to 5 job have benefits? Health insurance for a family plan can run as high as $1800 a month if you are paying out of pocket that's 20k right there. Does working when you want and as much as you want have value? vs the 9-5 salary position with no ot. If you need an extra $500 next week can you do that with the 9-5 job? If your car breaks doen or you get sick with Rideshare you don't get paid. Does the 9-5 give you paid sick time. I think it still comes down to different strokes for different folks. Some of us would rather work for ourselves than someone else that has value too. What's good for one is not neccesarily the same for someone else. Personally I think it is as good as any $25-$30 an hour job. I think if you are doing this full time in 40 hours you can easily do $1000. Now I am not saying it's easy just that if you put in 40 hours you can reasonably expect $1000 if not you are doing it wrong. My opinion is right now it is a decent gigI'd be interested in this as well, seeing as how last year I got a huge tax return
Drive 9am-5pm will make you $15-20 per hr so at 40 hrs mon-fri you'll make 37-38k a year gross. For every 10 hrs you drive here in Boston you should be able to make 10k-15k+ a year gross and 15k+ will be those split shift killers like john and mr. Singletons without children.
at a regular job. With all things considered, how much do you think Uber driving is equivalent to if you were working a 9-5 Monday through Friday? Curious to see some of the responses.
That is pretty damn close to the 40k assuming both in the same tax bracket driving you would have deductions against those earnings that the 9-5 salary 40k would have reducing the effective tax giving the in your pocket edge to driving.Drive 9am-5pm will make you $15-20 per hr so at 40 hrs mon-fri you'll make 37-38k a year gross. For every 10 hrs you drive here in Boston you should be able to make 10k-15k+ a year gross and 15k+ will be those split shift killers like john and mr. Singletons without children.
The biggest expense while being a driver(whether delivering pizza or ride share) is car maintenance, tune up, and gas. If you do full time in this gig, you will have to change tires every year. I will give a new car 4 years before you see parts breaking down and start replacing them.
A new car's annual expense is 5-6K max (oil change, gas, other minor stuff). not expensive.
However, it seems like drivers have made more $$$ than ever.. maybe it is due to their tips.
So, a 65K income is actually 60K (minus car expense). After tax would be 45k. Your 65k income at corporate office would be 50k after tax assuming you are single.
Here's the major difference. At a full time 9-5 job you work for all $40K. But driving Uber/Lyft we work for $40K but then get additional $25K through bonuses, incentives, quests, tips, surge pricing, etc....We essentially get free money at times. Oh, and we get unlimited sick/vacation time and we can punch in late, daily.