Taxes and rental fee

Inshur

marcusguber

Well-Known Member
I looked around and couldnt find an answer to this.

So far everything I read says that taking the mileage deduction works out better for people driving for Uber.

Im thinking that NYC is fairly unique in that we rent cars for significant rates to drive Uber. Do any of you who have driven for a while and rent find that is still the case? Or with the high cost of renting is it better to keep track and deduct the cost of rental and gas instead of mileage?
 

Toadster

Active Member
That's a good question. Is it either-or? (either deduct total mileage at a rate per mile, or deduct gas and lease)?
 

marcusguber

Well-Known Member
  • Thread Starter Thread Starter
  • #3
That's a good question. Is it either-or? (either deduct total mileage at a rate per mile, or deduct gas and lease)?
Yes it is either or, check out an app called Hurdlr, it does a pretty good job of tracking it all and telling you whats what.
 

John Yoo

New Member
What other expenses am I allowed to deduct. Food and dry cleaning, are those separate from car expenses?
 

marcusguber

Well-Known Member
  • Thread Starter Thread Starter
  • #5
What other expenses am I allowed to deduct. Food and dry cleaning, are those separate from car expenses?
You can deduct anything business related, car washes, gum, water (if you have either for PAX in NYC please leave the business), I use a separate phone only for work/Uber so I deduct that, if you pay for a parking spot or garage space.

Check these links:

http://www.nolo.com/legal-encyclopedia/tips-tax-deductions-uber-lyft-drivers.html

https://ttlc.intuit.com/questions/2722277-what-can-an-uber-driver-deduct

keep in mind Im just some random a-hole on the internet who seems to know stuff but the key part of the sentence in "A-hole on the internet" so verify anything I say just to be sure lol
 

Uberman8263

Well-Known Member
What other expenses am I allowed to deduct. Food and dry cleaning, are those separate from car expenses?
Those expenses are not deductible. If uber required you to wear a uniform, cleaning expenses would be deductible. If you take your pool clients out for lunch or dinner with the purpose of getting these clients to recruit more clients to you, that expense would be deducitabe. No doubt about it marcusguber may be an a hole, but his answer is correct. Sorry marcusguber I just couldn't resist.
 

Charlie Schwartz

Active Member
I plan on deducting for rentals and gas. I figure, if rentals are $415/week, I can deduct the full amount, but if I'm deducting 56 cents per mile, I would have to drive 741 miles in order to deduct $415. It remains to be seen if I'll hit that weekly mileage, but if I did, that would be perhaps $60 for gas, so I would need to drive another 100 miles. Which someone working 60 hrs/wk might hit, but not me.
 

Uberman8263

Well-Known Member
You can deduct anything business related, car washes, gum, water (if you have either for PAX in NYC please leave the business), I use a separate phone only for work/Uber so I deduct that, if you pay for a parking spot or garage space.

Check these links:

http://www.nolo.com/legal-encyclopedia/tips-tax-deductions-uber-lyft-drivers.html

https://ttlc.intuit.com/questions/2722277-what-can-an-uber-driver-deduct

keep in mind Im just some random a-hole on the internet who seems to know stuff but the key part of the sentence in "A-hole on the internet" so verify anything I say just to be sure lol
No one ever called you a random......a-hole. Just an..... LOL
 

marcusguber

Well-Known Member
  • Thread Starter Thread Starter
  • #12
When you didn't reply I was afraid you took my comment the wrong way.
Haha nah Ive been dealing with pure and utter insanity offline so I havent had time to read up here as much. Its almost over though, hopefully this weekend is the last of it.
 

Toadster

Active Member
I plan on deducting for rentals and gas. I figure, if rentals are $415/week, I can deduct the full amount, but if I'm deducting 56 cents per mile, I would have to drive 741 miles in order to deduct $415. It remains to be seen if I'll hit that weekly mileage, but if I did, that would be perhaps $60 for gas, so I would need to drive another 100 miles. Which someone working 60 hrs/wk might hit, but not me.
I like that but if the rental is paid by uber and deducted from your pay, and gas also, it's already a deduction. the mileage would be on top of that.
 

Charlie Schwartz

Active Member
Well, I dont know about that... Uber isnt really paying for my rentals. They are just crediting my account with a flat $415.

Please let me know how I can get an Uber gas incentive.
 
Inshur New York
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