Do Uber and Lyft Drivers Pay State Business Taxes?After talking with some drivers about taxes, some asked if they had to pay state business taxes. This was something I haven't really looked into before as in Massachusetts, there isn't any kind of tax on small business and S-corporations below a certain threshold. I know that California has a franchise tax but I wasn't sure … [Read more...]
Quarterly Estimated Taxes are Due This Friday for Q4 2015
Quarterly Estimated Taxes are Due This Friday for Q4 2015Just to remind you, the last payment for 2015 Estimated taxes is due this Friday, Jan 15. The first one (Q1 2015) was back on April 15th when you filed your taxes.For additional tax resources from Rideshare Dashboard, check out my popular online course for Uber, Lyft and Sidecar Taxes! Do I need to pay Federal … [Read more...]
How Uber Drivers Can Build Credit with Credit Cards
How Uber Drivers Can Build Credit with Credit CardsThe only way to build your credit is to get into debt. It sounds odd, but your credit is based on your history with loans. If you have a lot of loans but have a history of paying them off responsibility, then you will have good credit. If you don't have any debt or loan in your history, then companies don't know your credit … [Read more...]
How Uber Drivers Can Improve Their Credit Score
How Uber Drivers Can Improve Their Credit ScoreIn this day and age, your credit score is very important. It comes up when you try to buy a car with a loan, buy a house with a mortgage, or even looking for an apartment. For Uber or Lyft drivers, their credit score mostly impacts their ability to get a car loan or lease. The lower the score, the least likely you are to get a … [Read more...]
Last Minute Rideshare Tax Advice for Uber and Lyft Drivers
Last Minute Tax Advice for Rideshare DriversThere is just one more day until 2014 final taxes are due! More importantly, independent contractors (like rideshare drivers) also have their Q1’2015 taxes due.If you’re scrambling before the due date, here’s what we suggest you do:Step 1: File for an extension on your 2014 tax returnYou can extend the due date of your … [Read more...]