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The two questions I’ve gotten most since starting this site a couple months ago have been about insurance issues and taxes.  Well I covered insurance in Episode 2 and even though it took a lot out of me I’m back for more.  Taxes are probably one of the most overlooked parts of rideshare driving because you don’t have to worry about them until April every year.

Since I have experience with starting my own businesses and working as a 1099 employee, a lot of the same tax principles that apply there also apply to rideshare taxes.  Since rideshare drivers are self-employed and paid via a 1099, most drivers may not even realize that they now need to file a Schedule C as a sole proprietor when they do their taxes.  If that last sentence confused you, then this podcast is for you.  And even if it didn’t, there is still a lot of great information in there that can help you with your taxes

Taxes can be confusing and convoluted but I tried to really break it down into layman’s terms and tell you exactly what I plan on doing and why.  If you have any follow-up questions feel free to leave them in the comments section or send me an e-mail.  I’ve gotten great feedback so far on the first two podcasts and it has really inspired me to make sure that I am putting out some epic content.  As of 7/7/14, the first episode has been downloaded 422 times and the second episode has been downloaded 445 times.

By the way, if you like what you hear, I encourage you to subscribe to the podcast on iTunes or Stitcher.

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👉 Your two most important tools during tax season: Turbotax to file your taxes and a mileage tracking app to keep track of your miles! [Read more…]