No mileage log. What do I do now?

K, I admit I am stupid enough that I did not keep a mileage log for the 2 months I drove Uber and Lyft. So now I have only driven only 2400 miles according to Uber/Lyft,but in reality, I have driven at least 2 times as many. What do I do now? HELP. Can I just make up a mileage log/?
The gross earning is $4000. So I need to pay about 800 estimated tax before 09/15?
 

UberSelect07

New Member
I use an app called MyRideTrac. It tracks my rider and empty mileage as well as my personal mileage because it has buttons for each of those. It sends me a spreadsheet that I use as my log. It's pretty cool, and simple!
 

UberTaxPro

Well-Known Member
Sponsor
K, I admit I am stupid enough that I did not keep a mileage log for the 2 months I drove Uber and Lyft. So now I have only driven only 2400 miles according to Uber/Lyft,but in reality, I have driven at least 2 times as many. What do I do now? HELP. Can I just make up a mileage log/?
The gross earning is $4000. So I need to pay about 800 estimated tax before 09/15?
"Reconstruction" It's your only move. You'll use corroborative evidence like your Uber records, calendar, receipts, earnings records etc... It's not easy because the corroborative evidence you use must have “a high degree of probative value to elevate such statement” to the level of credibility of a contemporaneous record.
http://robergtaxsolutions.com/2011/05/reconstructing-tax-records-getting-your-ducks-in-a-row/

http://www.whiteheadcpa.com/2011/10/no-mileage-log-no-deduction/
 

NYGUY

Active Member
"Reconstruction" It's your only move. You'll use corroborative evidence like your Uber records, calendar, receipts, earnings records etc... It's not easy because the corroborative evidence you use must have “a high degree of probative value to elevate such statement” to the level of credibility of a contemporaneous record.
http://robergtaxsolutions.com/2011/05/reconstructing-tax-records-getting-your-ducks-in-a-row/

http://www.whiteheadcpa.com/2011/10/no-mileage-log-no-deduction/

Hiya UberTaxPro, off topic but wondering if you could recommend any accountants in NYC or Upstate area (I'm in Middletown NY) that specialize in preparing ride sharing taxes? Also I'm new just started driving in July do i need to file for quarterly taxes which ended August 31? Thank you.
 

UberTaxPro

Well-Known Member
Sponsor
Hiya UberTaxPro, off topic but wondering if you could recommend any accountants in NYC or Upstate area (I'm in Middletown NY) that specialize in preparing ride sharing taxes? Also I'm new just started driving in July do i need to file for quarterly taxes which ended August 31? Thank you.
You'd only need to file quarterly if you're making a net profit. Most drivers don't have a net profit but everyone's situation is unique. I specialize in working with small businesses including rideshare. I work out of an office in Wappingers Falls NY 2-3 days a week and I'm a licensed Tax Practitioner in all 50 states.
 

Mars Troll Number 4

Well-Known Member
K, I admit I am stupid enough that I did not keep a mileage log for the 2 months I drove Uber and Lyft. So now I have only driven only 2400 miles according to Uber/Lyft,but in reality, I have driven at least 2 times as many. What do I do now? HELP. Can I just make up a mileage log/?
The gross earning is $4000. So I need to pay about 800 estimated tax before 09/15?

if you get caught BSIng your mileage log you *could* lose everything above and beyond what uber is documenting you drove.

Let's talk ethically, let's talk reality...


If you DON'T get caught you save about $<200 in taxes to the IRS.

If you do get caught it could cost you a heck of a lot more than that... basically they could throw out your entire log for the entire year. AND pay a penalty. I have no idea what this would look like but I know you don't want this to happen.




About what you "Owe" in taxes.

$4000 is in fact $800,

However with deductions on 2,400 miles that shrinks to

$2,716 or $407 owed


if you had a good log that showed all your miles your tax bill would be another...
$1,432 in income with a taxi bill of $214
 
Thanks,MearsTrollNumber. So I just need to pay self employment tax for estimated quarterly tax(15.*%) for now and pay federal income tax(another 15+% by April 17 next year?
 

Mars Troll Number 4

Well-Known Member
Thanks,MearsTrollNumber. So I just need to pay self employment tax for estimated quarterly tax(15.*%) for now and pay federal income tax(another 15+% by April 17 next year?

No it's 15% of what you make each quarter. This is in lieu of having tax wit holdings...
And it's 15% OF YOUR TAXABLE PROFIT!

The best way i have found is to pay 10% OF MY TAXABLE PROFIT every other month so you don't get behind.


Your taxable profit (if you have any) is what's left after deducting your expenses.

So for you it would be..

$4000
-$1284
$2716
Minus any other business expense not relating to gassing, cleaning or fixing your car

X .15
$407
 

UberTaxPro

Well-Known Member
Sponsor
QUOTE="@[email protected], post: 2985391, member: 113672"]Thanks,MearsTrollNumber. So I just need to pay self employment tax for estimated quarterly tax(15.*%) for now and pay federal income tax(another 15+% by April 17 next year?[/QUOTE]
Estimated tax payments include both, self employment taxes (15.3%) AND income taxes. Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed.

https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes

https://www.irs.gov/pub/irs-pdf/f1040es.pdf
 

intrakitt

Member
Thanks.
Unfortunately, I used it for commute to work as well, which is only a few miles one way.
Do the math. Subtract the miles to/from your work X the number of days. Estimate how many miles you drive in a given week or month, multiply that amount, then subtract the appropriate miles and you have your answer, approximately. I use Hurdlr for the last two tax cycles (every 6 months if a business), and it's been great.
 

NHDriver

Well-Known Member
you can only claim the miles you actually have a pax in the vehicle. you cannot claim driving to pick up or back to a location for more pings those are considered commute to work miles. if you claim the mileage .575 cents per mile you cannot claim oil changes or tires. you can claim car washes and some mechanical repairs, you can claim a percentage of your insurance for part time or all of it if you are driving full time. you can claim cell phone data plan usage and your cell phone monthly fee. if you claim mileage you cannot claim gas separately.
 

intrakitt

Member
You'd only need to file quarterly if you're making a net profit. Most drivers don't have a net profit but everyone's situation is unique. I specialize in working with small businesses including rideshare. I work out of an office in Wappingers Falls NY 2-3 days a week and I'm a licensed Tax Practitioner in all 50 states.

In another thread, someone was arguing with me tooth and nail because I got a small business license for doing Uber. They said I was an idiot, that I didn't know what I was doing and that it was in no way beneficial to me. I disagreed, and told him it was my tax guy that urged me to do it this way. He said my tax guy was basically a moron. My business license though, here in Los Angeles, was $300. With my deductions, including mileage, I made very little profit, almost none. my State tax was around $11.00. Am I wrong to use a business license? Am I really benefiting, or is my tax guy wrong?
 
You can only claim the miles you actually have a pax in the vehicle. you cannot claim driving to pick up or back to a location for more pings those are considered commute to work miles. if you claim the mileage .575 cents per mile you cannot claim oil changes or tires. you can claim car washes and some mechanical repairs, you can claim a percentage of your insurance for part time or all of it if you are driving full time. you can claim cell phone data plan usage and your cell phone monthly fee. if you claim mileage you cannot claim gas separately.[/QUOTE]


Actually, that was what I thought after I read some blog on-line:

"Can You Deduct Mileage To and From Work?

Generally, no. The IRS defines the first trip from your house and the last trip back as your non-deductible commute. This is true even if your commute is really, really far. The IRS considers where you live a personal choice and, thus, a personal expense.

The mileage deduction is geared for your business drives."

But apparently this is wrong and is not what people have been doing.

I just leaned that if you use your home as office:

"Travel between offices
You can take this deduction for travel from your office or work site and you drive to a second place of business."
you can take all the mileage whether you have passengers or not.

My loss your gain.
 

intrakitt

Member
you can only claim the miles you actually have a pax in the vehicle. you cannot claim driving to pick up or back to a location for more pings those are considered commute to work miles. if you claim the mileage .575 cents per mile you cannot claim oil changes or tires. you can claim car washes and some mechanical repairs, you can claim a percentage of your insurance for part time or all of it if you are driving full time. you can claim cell phone data plan usage and your cell phone monthly fee. if you claim mileage you cannot claim gas separately.
Uber states that you must drive to and around a locale where you would receive those pings. Considering it's a requirement to get work, why can't those miles be deducted?
 

PrestonT

Well-Known Member
"Reconstruction" It's your only move. You'll use corroborative evidence like your Uber records, calendar, receipts, earnings records etc... It's not easy because the corroborative evidence you use must have “a high degree of probative value to elevate such statement” to the level of credibility of a contemporaneous record.
http://robergtaxsolutions.com/2011/05/reconstructing-tax-records-getting-your-ducks-in-a-row/

http://www.whiteheadcpa.com/2011/10/no-mileage-log-no-deduction/

If you write your reconstruction as a contemporaneous record, voila!
 
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