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Harry here. Today, RSG senior contributor Christian Perea shares an infographic around the hidden costs of driving for rideshare services like Uber and Lyft.
It’s easy for rideshare drivers to focus on the income they make every day but in this line of work, there are a lot of hidden costs when you drive for services like Uber or Lyft. And if drivers don’t pay attention to the burdens of being self-employed, they could be in for a steep (and expensive) learning curve.
Yet all of these extra responsibilities aren’t advertised when signing up to haul people or burritos around in your Prius. Most companies advertise high hourly amounts that are often unrealistic and never take into account expenses. As a driver and business owner though, you need to track everything from mileage to knick knacks that you buy for your car.
Make Every Mile CountDid you know that every 1,000 business miles can generate $535 in tax deductions? Never miss another mile with the new QuickBooks Self-Employed automatic mileage tracker.
If you want to simplify your rideshare finances we recommend QuickBooks Self-Employed. Check them out if you want to get organized by keeping all of your rideshare numbers in one place. Using our link will get you the first 30 days free and will save time and money when it comes to staying on top of your rideshare finances. [Read more…]