Pretty sure you can just claim the federal reimbursement

@treytaurmancpa

Жыл бұрын

Some employers offer reimbursements at the federal rate. The government doesn’t necessary reimburse you at that rate, as it’s a deduction and not a reimbursement.

Option 2 is best if you lease a car. I’m 1099 but I always finance and therefore I use option 1… or use my mileage to the max. My yearly expenses for the car aren’t that much compared to the 63 cents I get back per mile. It’s awesome.

I thought it was a reimbursement though? it just lowers your taxable income? so wouldn't I be only saving 412$ in taxes for 10,000 miles? that's peanuts aint no 62 cents a mile at that point lol

Someone on Lyft FB group was saying they WERE leasing a car (making regular payments) prior to doing rideshare. They weren’t actively making payments when doing rideshare and car was up for repo. So he or she didn’t know what to put on taxes when it asks if they own or lease their car. They were asking if they should select lease and input payment amount. (Amount they were not paying) and if so, what would happen. Apparently if you put “own car” they want the title number or something so they couldn’t do that. Can the IRS see if they were actually making the payments or not? any advice?

I work for a company as a W2 employee but do the same thing as DoorDash can I write off mileage I drive during my shift ? If not I’m getting ripped of not getting paid gas

@Dogeathotdog1

4 ай бұрын

Some states allow you to seek reimbursement from your employer

😊

Can you write off your monthly insurance policy as a dedication aswell if you open a LLC or no?

@Ykobaissi23

9 ай бұрын

I’m in California LA btw

@treytaurmancpa

9 ай бұрын

Good question! I can’t speak for California state returns as I don’t know the law off the top of my head, but federally speaking, you don’t need an LLC to take any special deductions for premiums. I’m assuming you’re talking about car insurance right? When it comes to the deductions, you will just need to keep track of the proportion of miles driven for business vs personal, that will give you a % to determine if taking that allocation of actual costs is that’s business related. If the total costs allocated to business is greater than the standard mileage rule, use that. Otherwise, you can’t take standard mileage rates in addition to premium costs- as that’s technically double dipping

@Ykobaissi23

9 ай бұрын

@@treytaurmancpa yes I did mean car insurance and thanks for the elaborate response. Didn’t know you never had to open a LLC. I thought they’re would be more benefits too a s corp (employee salary)

What tax form do I use as a Uber eats driver?

@treytaurmancpa

9 ай бұрын

Are you talking about what form you’ll use when you file taxes? Usually it’s a schedule C that will go with your normal 1040.

@zanieru7041

3 ай бұрын

If you’re told you don’t qualify for a form on the app then you can also use the tax summary . Account > Tax Info > Tax summaries > 20xx annual tax summary

Could you also deduct cell phone ect

@treytaurmancpa

5 ай бұрын

Good question! I usually do as long as there is some good estimate for the allocation between personal and business. So for example, if your cell phone bill is $100 monthly, and you’re using your phone continuously on the weekend evenings for your side business, then we can kind of back into how much of that $100 is reasonably allocated to your self employment.

@ML-bs6dn

5 ай бұрын

Thank u

Have faith in Jesus He is there for you and will heal you.Stray away from the immoral and repent for He is coming soon Do great things through Christ. You are amazing ❤️✝️

@elymanic3497

Жыл бұрын

No ty

@thechiefofsinners1362

11 ай бұрын

Amen!

@meki192

11 ай бұрын

🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼🙏🏼

@B1yant

7 ай бұрын

God Bless You ,Jesus Is King ❤

talking to fast

@treytaurmancpa

Жыл бұрын

Practicing for my career as an auctioneer. These 60 second limits are brutal.