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No more mileage write off?

Discussion in 'Taxes' started by since05/16, Dec 4, 2017.

  1. since05/16

    since05/16 Member

    Location:
    PA
    The new Tax code, anyone read it?
     
  2. Skinny1

    Skinny1 Well-Known Member

    Location:
    unknown
    I have yet to see that said.

    Everything I am reading is that since the standard deduction is doubling most folks will not itemize.
     
    UberTaxPro likes this.
  3. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    Where are you getting information that the mileage write off is gone? NOT TRUE!!!

    Yes! The new tax law will affect itemized deductions and income allocations, the mileage deduction is a business deduction and has nothing to do with itemizing.
     
    R James, unPat and Blatherskite like this.
  4. Skinny1

    Skinny1 Well-Known Member

    Location:
    unknown
    Dumb me , that’s why you are the pro. Correct the expensing would hit the business net income .... lots of misinformation right now out there ... they need to lock this bill in and set it straight.
     
  5. UberPissed

    UberPissed Well-Known Member

    Location:
    Chicago
    Driving:
    UberX
    I hear the revision will be done in crayon.
     

  6. since05/16

    since05/16 Member

    Location:
    PA
    It was a question. That's why I used a ?
    I am not trying to bring false information. I really don't know how ride share will be affected.
    You made it clear Tax pro.
    It is a business deduction and stays.
     
  7. pcDragon

    pcDragon Member

    Location:
    California
  8. UberTaxPro

    UberTaxPro Well-Known Member

    Location:
    CT
    Driving:
    UberX
    Welcome back! Where have you been?
     
    Older Chauffeur likes this.
  9. Mears Troll Number 4

    Mears Troll Number 4 Well-Known Member

    Location:
    Orlando-ish
    Driving:
    Taxi
    One of the effects will be 5% of your income being withheld by uber.

    Taxis will get hit with it too, but i'll actually owe money in taxes, most uber drivers won't.

    The result will be a pay cut every week, and a refund.
     
  10. Rat

    Rat Well-Known Member

    Location:
    Tallahassee, FL
    You just made all that up
     
    UberTaxPro and UberIsverycaring like this.
  11. UberIsverycaring

    UberIsverycaring Member

    Location:
    USA
    oh Rats!!!!!
     
  12. Amsoil Uber Connect

    Amsoil Uber Connect Well-Known Member

    Location:
    DLA7 / Lyft
    Ya but one still needs a 23 grade level to understand it.

    I suppose the code will be 3 volumes now and another 500 pages of gooblie gook.
     
  13. Okphillip

    Okphillip Well-Known Member

    Location:
    San Francisco
    The Republicans don't even know half of what they are voting for and how disastrous it will be to the national debt and yearly deficit!!!
     
  14. SEAL Team 5

    SEAL Team 5 Well-Known Member

    Location:
    Phoenix
    Driving:
    Livery
    That's for personal use, not business use. Personal use as driving to physical therapy, driving to CPA's office etc. Your miles for business use are still tax deductible.

    I'm going to go out on a limb and state that with all this new gig economy for driving than don't be surprised to see the standard mileage deduction for business fall to under $.40/mile in the next few years.

    Can't see it being anywhere close to the $1.25 trillion/year deficit that we've incurred for the past 8 years.
     
    KennyB619 and since05/16 like this.
  15. Amsoil Uber Connect

    Amsoil Uber Connect Well-Known Member

    Location:
    DLA7 / Lyft
    You forgot the other 98.6% of the voter registered population.
     
  16. R James

    R James Active Member

    Location:
    Bothell, WA
    Driving:
    UberX
    Remember, as Uber drivers we are BUSINESS OWNERS! Exactly the type of people that Trump loves (har, har)! So let's screw the little people and start voting Republican!
     
  17. SEAL Team 5

    SEAL Team 5 Well-Known Member

    Location:
    Phoenix
    Driving:
    Livery
    Small business tax laws have been virtually untouched for years. Don't be hateful because you jumped into something blind. The tax laws for driving with Uber have been almost exactly the same since Uber's inception in '09. Don't blame others for your own ignorance.
     
  18. R James

    R James Active Member

    Location:
    Bothell, WA
    Driving:
    UberX
    Drive a few extra hours this week so you can buy a sense of humor. : )
     
  19. SEAL Team 5

    SEAL Team 5 Well-Known Member

    Location:
    Phoenix
    Driving:
    Livery
    If I want humor I just read a few posts on UP.net. It's better than the Spicoli "I Don't Know" scene in Fast Times at Ridgemont High. The sad part though is that I'm laughing and shaking my head at the same time. Not only are most of the posts in this forum asinine, but the grammar and spelling is that of a third grader.
     
  20. R James

    R James Active Member

    Location:
    Bothell, WA
    Driving:
    UberX
    Don't you mean that the "grammar and spelling ARE those of a third grader"?
     

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