FAQ
RIDESHARE DRIVERS
If you are a Lyft or Uber Drive here are some rideshare expenses that you can deduct. Keep in mind only the portion used for business is deductible
STANDARD MILEAGE METHOD
This is a set rate that is meant to cover your entire car expenses. The rate
this year is 67 cents per mile.
Common Operating Expenses:
-Cleaning Supplies
-Passenger Treats
-Phone & Accessories
-Parking
-Tolls
-Wireless Plans
Common Vehicle Expenses:
-Vehicle Depreciation
-Car Washes -Gas
-Maintenance -Repairs
-Lease Payments
-Tires
-Oil Changes
-Car Insurance
-Vehicle Registration Fees & License
Contact Us
There are many events that occur during the year that can affect your tax situation. Preparation of your tax return involves summarizing transactions and events that occurred during the prior year. In most situations, treatment is firmly established at the time the transaction occurs. However, negative tax effects can be avoided by proper planning.
Please contact us in advance if you have questions about the tax effects of a transaction or event, including the following:
• Pension or IRA distributions.
• Significant change in income or deductions.
• Job change.
• Marriage.
• Sale or purchase of a business.
• Sale or purchase of a residence or other real estate.
• Retirement.
• Notice from IRS or other revenue department.
• Divorce or separation.
• Self-employment.