Maximizing your deductions at tax time will save you a ton of money, but in order to do that, you’ll need a good mileage tracking system. So we tried all of the top mileage tracking apps, and here are our favorites!
Did 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.We recently hosted a live tax Q&A on YouTube with Jenni Bushong from Intuit TurboTax. Jenni holds a J.D. and a Masters in Taxation, and she works as a tax specialist for Intuit. That seems pretty impressive to me when it comes to finding an expert on taxes!
We pulled questions from all of our viewers, ranging from what to do with the extra “fees” on Uber’s 1099-K to whether or not you can deduct back massages. At the end of the show, we passed out three copies of TurboTax Self-Employed to those who asked good questions.
If you missed your chance to ask Jenni a question in real-time, TurboTax Self-Employed actually has a feature called “SmartLook” where you can have a tax specialist do your taxes with you in real-time. And you can even get all your questions answered there without paying for TurboTax Self-Employed (since they only charge you at the end to file).
If you do end up using TurboTax Self-Employed, our link will save you $20 off the full price.
Harry here. Today, RSG senior contributor Christian Perea takes a look at TurboTax Self-Employed, one of the top options if you’re looking to self-file your taxes and reviews how it works, how much you can save and more!
Dealing with taxes as a rideshare driver can seem intimidating, but it doesn’t have to be. Our 2017 survey showed that 54% of our readers “self-file” their rideshare taxes, and many of them use online filing services to do so.
This year, we’ve partnered with TurboTax and QuickBooks Self-Employed to walk you through the filing process. If you end up using our link, you’ll save $20 when you file your taxes and score a year of QuickBooks Self-Employed for free (it’s usually $10/month).
The best version of TurboTax for rideshare drivers is TurboTax Self-Employed since it’s tailored towards independent contractors. So if you drive for Uber or Lyft or deliver for Postmates or DoorDash, this is the product you may want to use. We’ve been testing it out over the past few weeks and found it makes filing taxes pretty painless, and has some cool features like SmartLook (Live Help) and bank account syncing via ExpenseFinder™ that make it stand out from its competitors.
One of the things a lot of new drivers overlook when they’re just getting started is taxes. Taxes as an independent contractor might seem scary, but they’re actually pretty simple. Today, we’re going to answer all the questions you may have to make sure you maximize your deductions and minimize your taxes paid.
Every year in early February, Uber and Lyft send out 1099s for the prior tax year that detail how much you made, what fees they took out and the miles you drove. And since drivers are independent contractors, all that means for your taxes is that you’ll have to file a Schedule C in addition to your 1040.
So let’s get started:
Harry here. Uber and Lyft typically send out 1099s in early February, so hopefully you’ve been tracking all of your mileage! But if not, we’ve teamed up with Stride Drive for a guest post to help you figure out how you can still claim all those lost miles.
This post was written by Stride’s Tade Anzolone, who heads up their tax and finance support and is a registered tax return preparer and 2017 Annual Filing Season Program Participant.
Check out their new Uber Tax Calculator, which can help you cut your taxes in half.
First of all, don’t panic! Many drivers have faced the same situation of not completely tracking their business miles or simply not knowing what to track. Sometimes new drivers don’t get the heads-up that their mileage is deductible. Often, drivers don’t keep a mileage log for all of the miles they’re allowed to deduct for the year. [Read more…]
