□ Tip: The most important tools during tax season are software like TurboTax or H&R Block to prepare your taxes and a mileage tracking app to keep track of your miles! Rideshare Drivers File Taxes as Independent Contractors If you signed up with different emails then you will receive separate tax summaries. If you use the same email for both accounts and deliver for Uber Eats then you’ll receive a combined tax summary of your Uber and Uber Eats income together. ![]() You’ll just have to uncheck the box for Go-Green since you’re requesting a paper copy. Keep in mind for next year that you must opt into this by December 31st to receive a mail copy. If you haven’t opted in to send your tax summary by mail then you’ll have to settle for the online version. Keep in mind that if you opted to receive your forms in the mail you should get them sometime after February 1st. You can click here to learn more about how to contact Uber and how to contact Lyft when you need them. If you haven’t received yours by the end of January, you should reach out to them directly. The summaries can be downloaded in your driver app by clicking on Account > Tax Info > Tax Form will take you straight to the forms. Uber and Lyft drivers allow you to have access to your tax summaries on. In This Article How to Find Your Rideshare Tax Information So let’s get started and see how to file your taxes as a rideshare driver. We will be updating this article throughout the 2023 tax season, so make sure to bookmark this and save it as you go through your taxes this year! In this guide, we’re going to answer all the questions you may have to make sure you maximize your deductions and minimize your taxes paid. Rideshare taxes as an Uber or Lyft driver might seem scary, but they’re actually pretty simple. ![]() One of the things a lot of new rideshare drivers overlook when they’re just getting started is taxes. This does not influence our recommendations or editorial integrity, but it does help us keep the site running. If someone from outside needs to weigh whether your business is a safe investment, they’ll need to see your expenses (along with your earnings) to make a decision.At no extra cost to you, some or all of the products featured below are from partners who may compensate us for your click. If you ever need a loan or investor, they’ll need to see your expenses. And tracking business expenses enables you to catch when something costs more than usual, or more than it’s worth. Figuring out which costs you can reduce or cut depends on knowing what you’re spending. Tracking expenses is an important part of budgeting.Īnytime you need to cut costs, you need to know your expenses. A budget helps you manage expenses and keep them to a level you can afford. Understanding expenses is required for making (and sticking to) a business budget. But you have to know what your business expenses are for this to be an option. Many countries allow businesses to deduct business expenses and pay less in taxes as a result. Your expenses could affect your business taxes. Half of calculating profit is knowing how much you spent. Measuring business success isn’t just about how much you earned it’s about your overall profit. You can’t calculate your profits without knowing what you spent. If you're hoping to save money in taxes by listing your expenses as deductibles, it's crucial to learn the specific laws and classifications around what counts as a business expense in your country. This is especially true for any businesses planning to include business expenses in tax preparations. Any professional development or networking costs (such as dues for the local Chamber of Commerce, or courses you take to improve your skills)įor small business owners, the line between personal life and business life can get fuzzy, but recognizing the difference between personal and business expenses is important. ![]() The materials used to create your products (such as food ingredients and commercial kitchen supplies for a restaurant, or flowers and vases for a florist).The cost of employees and contractors you hire.Any spending related to your business storefront or offices (such as rent, maintenance, utilities, and yard work).Businesses of different types will face different kinds of expenses, but some of the most common to keep in mind include these:
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