We are once again in the middle of tax season so mileage tracking has become a big topic through my email and Facebook Page. It is very important that Uber drivers and Lyft drivers accurately track their miles when they are driving on either Uber and Lyft. Uber drivers and Lyft drivers need accurate mileage records in case the IRS decides to audit them. Most drivers have caught … [Read more...]
Uber and Lyft Taxes 2017: 1099 Forms Are Now Available
Uber and Lyft Taxes 2017: 1099 Forms Are Now Available Uber and Lyft announced that they would release the 1099s by January 31st and it is finally live as of last week. Here are what the two different services have in terms of tax summaries and 1099s: For additional tax resources, check out my popular online course for Rideshare Taxes for Uber and Lyft Drivers! Lyft: They … [Read more...]
How Uber and Lyft Drivers Benefit from Trump Tax Plan
How Uber and Lyft Drivers Benefit from Trump Tax Plan Trump passed one of the largest tax reform bills in the past 20 years and it will have a large impact specifically to Uber and Lyft drivers. The Trump Tax Plan only affects income in 2018 so this won't impact your current tax returns on 2017 income. However, this gives Lyft and Uber drivers a bit of time to adjust to the … [Read more...]
How Uber and Lyft Drivers Prepare for New Years Eve
How Uber and Lyft Drivers Prepare for New Years Eve New Years Eve is relatively profitable compared to one of the slowest weeks in rideshare between Christmas and New Years Eve since many people have taken off work, kids are out of school, and many people are traveling with family over the holiday. There have been fewer and fewer drivers reporting back that New Years Eve was a … [Read more...]
Uber and Lyft Taxes 2016: 1099 Forms Are Now Available
Uber and Lyft Taxes 2016: 1099 Forms Are Now Available Uber and Lyft announced that they would release the 1099s by January 31st and it is finally live as of yesterday (Jan 31st). Uber released the 1099 weeks ago but Lyft only did it yesterday. Here are what the two different services have in terms of tax summaries and 1099s: For additional tax resources, check out my newly … [Read more...]