Finally someone who "clearly" understands the assignment. Everyone else take you thru a "circus" just to waste a whole bunch of time and energy. Salute

@lifewithtiya.

4 ай бұрын

Right

The best way to show people is to actually fill out the forms with a hypothetical driver earnings. Would be a lot more helpful than just talking.

@Zunknownn

6 ай бұрын

You should make a video for us showing us how to do it

@thetraveler9

6 ай бұрын

@@Zunknownn if I knew how to do it I wouldn't have viewed this video

@MelanieButera

3 ай бұрын

……. Save 25% for tax time Save your receipts for your deductions If you have a vehicle you use for only delivery you can write off 100% of expenses spent on said vehicle and the things you use for and only for delivering. If you use it for personal use and business then you need to calculate the percentage of how much you use the car for your business needs. You can then take that percentage of the car’s expenses and write those off. So: *Save 25% (or calculate and save how much you should be paying in taxes before deductions -federal, state, and self employment tax (15.3%)- but imo 25% is a good starting base percent. BONUS POINTS: Find a high interest savings account to put this money into. As long as the account still allows you to transfer money at least once a year without penalties you will be earning interest on essentially borrowed money. Taxes= government money Interest= bonus money *Save MORE than 25%: Not mentioned in this video but….. create some form of retirement account and put money into that… this can be a good account to transfer any of that bonus money the government didn’t take after tax time. *Keep driving records(keep in vehicle and fill out immediately): Track your miles used Tolls Gas/ electricity cost(ev) Avg mpg (optional w/ cost per gallon if you want to track gas spending) USE OF VEHICLE *Keep Working Records (keep in vehicle, fill out immediately) Miles traveled Fare/tips Tolls Taxes Gross pay Expenses Net Pay *Receipt envelope: I don’t think I need to explain this one…. *Deduction Record: Item purchased Is the receipt in your possession? Cost of item *Keep everything in one place: Buy a black binder, keep your written records here and your receipts envelope and keep in the door or glovebox of your vehicle ***INSURANCE: Some insurances will not cover you if you get into an accident while ridesharing/delivering. This may require you to add onto your current policy if the company you outsource yourself out to will not bridge that gap by offering insurance to act along your personal insurance. You may need to report your earnings multiple times a year I believe this depends on how much you make every quarter and could potentially save you in fines and fees come tax time. Keep in mind as well that the tax program you may have to use may be more expensive than what you currently use for tax time.

Best advice ever 😂, I don’t understand anything in this, but sounds legit 😂❤

Nice - thanks for the tips. This is huge. Did my first Dash in Marlborough, MA area. TUE night for 3 hr 40 min and made $78. Thought it was pretty good. Excited to keep going.

@Fulltimesidehustler

Жыл бұрын

That is awesome man! Keep grinding and slowly but surely it will all pay off 🙌. Also, its great to see another MA side hustler here 💪🏼

@rafael02130

5 ай бұрын

He's in the rich area lol

Thank you for your help.

Crazy thing is, I had no idea. I owed 400 something last year for tax. And didn’t do any deductions and thought it was coming out already. I obviously didn’t read the long ass fine print 😂😂. But I did it back in college and never had to pay anything so I just thought .. but as my mom says “ that’s what you get for thoughtin, next time think” so here I am trying to THINK ahead lol thanks for the tips ❤

damn so it is how everyone is saying😂you just over think and get intimidated by doing or going to do taxes appreciate the video💯

@Fulltimesidehustler

Жыл бұрын

Yeah man don’t overthink it! Of course still be detailed and make sure you do everything correctly, but don’t let it freak you out!!

Can you please do a video if you want to pay your taxes each quarter instead of yearly

Car maintenance can you add along with the other items you listed to add under expenses?

HI‼️ 👋🏻😁 I've got a big 🎉 question. im on disability and i wanna start dashing, but i don't wanna go over the amount im allowed to make a month. Which i won't have that happen or do that. How do u do taxes? Because they don't deduct any, do u set momey aside? What apps do u use to help you qith write offs? Like i said, this would be a perfect job for me on disability. Can anyone help me out with how u guys hold the taxes each week? And do u use the app everlance? It says i can dash right now. Im too scared 🏧 tho. Until i figure out how to manage the money that's mine and manage the money that's not mine that i pay back in taxes. I was working at fedex ground as a package handler for a year and a half. i got a rotator cuff injury, so I've been out of work. CAN SOMEONE PLEASE HELP ME UNDERSTAND HOW TO KNOW EXACTLY WHAT TO PUT AWAY FOF THE TAXES AND WHAT ALL AND HOW I WRITE OFF. THANKS‼️❤️

Thanks bro

Hi, did anyone notice when doing your taxes that Uber eats has a section on the tax summary for taxes, fees and taxes that is tax deductible? if so doesn't IC do the same thing bc I can't find it.

Hi I have a question 2022 i did DoorDash ,Grbhub and Uber. I got 1099 NEC for all 3. Over all less then 20k. Federal and state taxes showing blank on my 1099 NEC .How do I calculate my taxes??

thanx

Do you guys pay taxes for spark quarterly??? Do you get a statement?

I just started to do Uber 01/17/24.

If you're paying 25% in taxes as a rideshare worker you're getting robbed. Your expenses should offset your taxes by a fair amount. I highly recommend a mileage tracker that automatically starts tracking miles as soon as it detects a gig apps is on. Well worth the $5 bucks a month which is also an expense.

I have an LLC, should I set my tax documents to my LLC to drive with uber? Or door dash?

@Full Time Side Hustle Thanks for your video. I'm a food delivery driver and my question is can I claim a mileage deduction AS WELL as use the standard deduction, which is about $13000 for 2023? I always thought that if I chose to deduct mileage that I would have to use the itemized deduction instead of the standard deduction.

What if you have a full time job and only do side gigs sometimes? That is more for full time workers

How do I look at my Spark mileage for 2022?

I have a question. I am currently doing DoorDash and UberEats how do I handle the miles? Do I separate them or it’s okay just the total from both when doing taxes

@lancedodson7262

Жыл бұрын

Solid question, I just started Dashing and I’ve been using Gridwise to track miles and you can connect Uber/DD and a bunch of other services to easily track your miles and earnings

License plates, rent, car insurance plenty of other things you can partially write off

do you have to have a llc to do these or should you?

Lets say i am also mowing lawns do i just blend all the businesses lawns, instacart ect. together in checking account and write offs?

@Ink30

5 ай бұрын

Yes

You don’t have to worry about this unless you’re making over 50,000 a year just take the standard deduction

@sk8n854

3 ай бұрын

Where is a standard deduction 50k at? Last I checked, it's like 15k for single with no kids.

Do you have to show all of the drive mileage for every delivery you made or just need to total it?

@Ink30

5 ай бұрын

Round up and add a few thousand extra

i just started uber eats an only made $377 how do i file ?

Putting 25% aside from any 1099 activities is an excellent idea. Be it insta cart or real estate

Sorry if I don't understand... Can you explain SIMPLY if you receive NONEMPLOYEE COMPENSATION or do you have to pay it? I can't get answers anywhere. I still don't know if that's money I will get or money I will have to pay.. thanks

@joet6255

10 ай бұрын

You have to pay taxes. Track all of your expenses and mileage and you can deduct that during tax season so you have less taxable income. I usually set aside $20 for every $100 I make just to be safe. This whole video is about reducing your taxable income, because if you don’t deduct anything, then you’re liable to pay taxes on every single dollar you made, and you shouldn’t.

@Full Time Side Hustle, about your driving mileage: what exactly is that? Is it From the Start of your shift, when you click Start Dashing until you’re done working, Or, from the That you accept a Pu, or what? Sign On, Sign Off/ Or Back Home for the End of Work??? Thank-you 🙏🏽

@Ink30

5 ай бұрын

all of the driving you do while logged on

So would i still want to track my mileage if I'm riding an electric bike? I would say yes in some way if im paying for electricity to charge the bikes battery but i dont pay utilities in the studio im renting..? Any advice on this would greatly appreciated

File this under 1099-k or 1099 nec or misc on free tax USA ?

What miles do you keep track of just miles from restaurant to customers house? Or can you claim all the miles from starting point and roundtrip back to starting point?

@Fulltimesidehustler

Жыл бұрын

From pulling out of your driveway to pulling back into your driveway!

@dbzownz12345

Жыл бұрын

@@Fulltimesidehustler how would we keep track of those miles per say? Like, we can't record video & send in a 3hr video clip of our miles for our yearly trips. What proof do we need? Take pictures of each and every trip than upload a million pictures to the IRS? Thanks, I just started door dash 3 weeks ago.

@yuuur4930

Жыл бұрын

@@dbzownz12345would also like to know this, like what is to keep someone from say, lying? When filing claimable miles by putting in more miles than they’ve actually driven

@dbzownz12345

Жыл бұрын

@@yuuur4930 Asked my friend, but he does Uber & he usually has his tax guy do everything. I'll ask him again if he remembers, he hasn't done Uber since mid 2021.

@karliewhittington719

9 ай бұрын

Reset your trip odometer each dash sesh. Record data daily

Can i present price of bicycle or svhooter to deduct tax?

I do Shipt and Spark and most of the time both of them in the same day. Do I have to keep the miles separate for each? One more question. What miles can be claimed? From your house to the store and then for each customer, back to the store, etc etc and then back to your house when your through for the day? Thanks for the tips.

@Fulltimesidehustler

Жыл бұрын

I would try my best to separate the two. And you can track your miles from the second you pull out of your driveway to the second you pull back in!

@66lwmorgan

Жыл бұрын

@@Fulltimesidehustler Thank you, appreciate the reply. You got a new sub.

Usually do you save more money if you decide to keep track of the gas you spend or by using the standard percentage rate set by the irs?

@sammcclain129

5 ай бұрын

I don't know if you're still looking for answers but from what I've gathered it's supposedly better to just take the standard. This is my first year dashing so I'm trying to learn as well

I need to file mine just been struggling alot

I moved from California to Florida at the end of October 2022. I worked with instacart all year. Wondering which state I should be filing my taxes with. I earned most of the money i made in CA but I now live in florida. Please advise if you can

@emilyfeagin2673

6 ай бұрын

When you do your taxes, you will do seperate returns for each state. You can combine both states on your federal return

Some when i need to start tracking my miles when I start a delivery (pick up and dropped)or when I start driving looking for delivery??

@SeekingTarot

4 ай бұрын

I recommend tracking pick up drop off orders, that specific number is helpful. Also side note keep track of yearly miles for everything you use your car for. I'm not a tax expert. But better to have to much info than not enough

Don't you have to pay quarterly as a gig driver?

i was going to ask what do you think i should do if i didnt know i had to track my mileage when i first started doing shipt and I never tracked my miles at first?Would it effect my taxes would i have to give more or anything like that?

@Fulltimesidehustler

Жыл бұрын

The more miles you are able to write off, the less you will have to pay in Taxes because you will have a lower taxable income!

@DP-zf5kh

Жыл бұрын

@@Fulltimesidehustler ohh ok ok so basically nothings gunna happen just less money to he deductible?

@Fulltimesidehustler

Жыл бұрын

@@DP-zf5kh exactly! But it is important to track those miles because it can end up saving you THOUSANDS of dollars in the long run!

@DP-zf5kh

Жыл бұрын

@@Fulltimesidehustler ohh ok ok well it looks like i cant do nothing because i dont think shipt tracks its own miles huhh or do you know if it would and at that time i was doing shipt and i forsure put over 1k miles but i wasn’t tracking my mileage now i am.b

@taylor3845

Жыл бұрын

@@DP-zf5kh get a really good estimate and go with that

could i write enough gas mileage to get a tax return or will it just mean that I owe nothing?

Do doordashers need to do quarterly taxes or yearly?

Also what if you're taxed right offs are more than what you earned

What if I made less than $600 doing the gig work? Do I have to pay tax?

hey man need your advice in 2022 i have maked 6000$ from Doordash and had accident while doing it and lost more then 6k what you ll advices

I take pics of my mileage before and after my work, will that be enough proof? Or do I need to use a special app. Also do I need to set up an LLC in order to write these off ?

@karliewhittington719

9 ай бұрын

I just reset my trip odometer each dash and then record what miles I drive and pay received in a notepad file on my phone. I think they would just need the total for the form but you should have some amount of documentation that has detail in case of an audit.

@tallycahamuhlhetru26

3 ай бұрын

I document my miles at the end of each day I deliver for each app I use. Then I automatically reset my odometer before getting out of the car for the day/night. It's personally easier for me to do it that way, rather than having to remember after each trip.

Can you write off your monthly car insurance payment?

bro wht if i buy the iphone as finance do i still get 500$ off???

does the 1099 nec include tips that we got paid or just what the company paid us

@rafaelbarrios686

Жыл бұрын

I hope he answers

It does make me hesitant that do these apps really pay off? Hell I gotta fill up my tank and get an oil change

I heard from a DoorDasher that he paid 80% tax rate on his tips. He said that a tax preparer did it for him. Is this true?

When you write off your mileage, can you do your total mileage that year or just specifically the mileage u spent doing gig work?

@richardr7947

4 ай бұрын

You can only write off miles when your working doing gig work. All other time your driving your car not doing gig work you can not write those miles off.

The MAJOR THING YOU ARE MISSING is that as a self-employed, you need to pay your taxes QUARTERLY and not at the end of the year otherwise you will pay a penalty fee.

Is there a minimum you have to hit in earnings before you have to pay back taxes? I have a full time job and this will be a side job for me.

@joet6255

10 ай бұрын

$600 and over they'll send you a 1099-NEC (non-employee compensation) at the end of the year. Get with a tax expert because if you have a W2 job also, it might offset all (or at least some) of how much you have to pay on your 1099 gig. You might even still get a refund.

Still waiting on my 1099 nec. Is there a way to expedite this?

Why does tax summary grom app year amount earned not match the 1099

@tallycahamuhlhetru26

3 ай бұрын

Look for the * on fee amounts. In most cases you can deduct those amounts. They're normally the fees you pay on the app.

The carbon paper for receipts tend to fade over time do we have to show them every single one ?

@Fulltimesidehustler

Жыл бұрын

I would definitely keep every one in a box. But the best way in my opinion is to have a debit card/account dedicated to your business expenses. That way you will have all the data you need come tax season!

@venetiakelley

11 ай бұрын

Do you have an LLC for this work? if so, can you do a Video on doing that?

Excellent advice thanks for the information! One question, I may have missed it. As 1099 employees are we required to file QUARTERLY? I read somewhere this is a requirement. Sorry if I missed it in the video?

@oscaraguirre565

Жыл бұрын

Not required but recommended. You take had you had to pay for the previous year and break it up into 4 quarters for the next year that way at the end of the year you’ve already paid some taxes you might get a refund back depending on how much you made.

@emilyfeagin2673

6 ай бұрын

It depends on income

Is it possible to file your taxes and not have to pay back anything?

@BZ4MENT

Жыл бұрын

Wordd this was my question too. Especially. with the write offs, you really can take advantage of that and really not pay too much. Like for example for me I barley Doordashed this year and made under 10k from it , since I’m payin 20% most of my deductibles can cover that 20%

Doesn't irs give you a standard mileage.

Seems confusing to me. I always thought your take out a percentage from the business checking to pay yourself in the the private checking and leave extra money in the business checking for taxes and business costs.

So you only pay taxes once a year? I’ve seen people mention you have to pay every quarter, is that true?

@Fulltimesidehustler

Жыл бұрын

You can do either! Totally your choice.

@frankiecarrrierivg03

Жыл бұрын

I will say pay it quarterly so you don’t get a big tax bill that’s my suggestion

I did Doordash for a few months last year and stopped doing it. How do I look up how much I made last year? Do they mail you a form?

@chloestarks5993

5 ай бұрын

Did you make 600 or more? If you did, they should have sent you an electronic form or in the mail a 1099.

Question: do you pay any taxes quaterly?

@BudgetWithMani

Жыл бұрын

You could

Are bank statements showing gas purchases just as good as a receipt?

@Fulltimesidehustler

Жыл бұрын

Yes its actually easier that way!

the mileage thing.. i track that myself? ive never done this so im curious

@xldeadsniperlx3219

3 ай бұрын

At the end of the year they’ll send you an email showing you how many miles you drove but most get apps to track them accurately just add a couple thousand that it just to help you out nothing crazy from the original miles

Hi. As far as tax purposes. Does your miles begin when you click accept or does it begin when you get to restaurant ? Thx 😊

@dbzownz12345

Жыл бұрын

How do you keep track of miles driven on door dash? Is there something in the app or are we suppose to like screen shot every trip we take?

@xldeadsniperlx3219

3 ай бұрын

As soon as you start dashing or open the app and start it your automatically working all the miles you drive without getting orders are still consider worked so write them off

What about quarterly taxes?

Can I write off my car wash membership?

@trinnytron

Жыл бұрын

Yes.

@trinnytron

Жыл бұрын

Keep your documentation, of course.

So I did this last year (2022) I made less than $600 because I decided it wasn’t for me- how should I claim this on turbo tax? Instacart won’t help at all answer this

@therealwiseguy3747

Жыл бұрын

If they didn’t send you a 1099 I wouldn’t worry about it personally

@Floridaburg-

Жыл бұрын

@@therealwiseguy3747 figured it out but you do have to file a 1099 misc form on turbo tax to claim anything under $600 also you need their EIN number for the form

@therealwiseguy3747

Жыл бұрын

@@Floridaburg- can’t you just use your social instead of an EIN

@Floridaburg-

Жыл бұрын

@@therealwiseguy3747 I didn’t see a place to put it, when the form was prompting me to put info in the boxes it specifically asked for the payer EIN or TIN

@therealwiseguy3747

Жыл бұрын

@@Floridaburg- hmm

Uhm. The government does NOT pay you per mile. The government allows you to deduct an amount per mile from gross earnings. Big difference.

Why can’t you use your EIN who wants to do a 1099 with their own ssc

I dont have the gas receipt 😂and other expenses not even mileage

@ashleysanders2989

5 ай бұрын

My situation 😢

I only made 200$ for Instacart do I still need to pay taxes?

@That-Ninja

Жыл бұрын

No should be paying the parasites anything tbh

I'm an Uber driver & I only made 3000.00 in 2022. I didn't get a 1099 form from Uber but I did get a "Tax summary" What's up with that?

@Mokoflama

Жыл бұрын

Same. I do my taxes with TurboTax and it just transfers everything over without the need of a 1099. Uber used to cover the fee but I think now they just offer a discount on TurboTax

@olivi3339

Жыл бұрын

Tax summary emailed with total gross pay..... that's all you need...

@Cruiser007

Жыл бұрын

@@olivi3339 Thanks for your reply, much appreciated👍

@Cruiser007

Жыл бұрын

@@Mokoflama Thanks for your reply. I appreciate all the advice I can get.

What if im a uber walker? Which tax form do I need to put

@Fulltimesidehustler

Жыл бұрын

I believe an uber walker should also receive a 1099 tax form just like uber drivers! Also side question, are you still doing the Uber Walker program? I thought they stopped it? Seems like a cool way to stay healthy in a city!

Hey my 1099k people

25% /week or 25% /day ?

@cocob2033

Жыл бұрын

Every paycheck take 25%

II’m on my Donald Trump shit. Just bump the miles up until you owe nothing. You’re welcome.

@Fulltimesidehustler

Жыл бұрын

Haha that works too!!

@greekhercules

Жыл бұрын

HI‼️ 👋🏻 BRI 😁 I've got a big 🎉 question. im on disability and i wanna start dashing, but i don't wanna go over the amount im allowed to make a month. Which i won't have that happen or do that. How do u do taxes? Because they don't deduct any, do u set momey aside? What apps do u use to help you qith write offs? Like i said, this would be a perfect job for me on disability. Can anyone help me out with how u guys hold the taxes each week? And do u use the app everlance? It says i can dash right now. Im too scared 🏧 tho. Until i figure out how to manage the money that's mine and manage the money that's not mine that i pay back in taxes. I was working at fedex ground as a package handler for a year and a half. i got a rotator cuff injury, so I've been out of work. CAN SOMEONE PLEASE HELP ME UNDERSTAND HOW TO KNOW EXACTLY WHAT TO PUT AWAY FOF THE TAXES AND WHAT ALL AND HOW I WRITE OFF. THANKS‼️❤️

@That-Ninja

Жыл бұрын

What do you mean exactly? I'd like to find a loophole. T@xes is straight up theft. Screw what all the braindead cattIe say. And for the record, Trump is a zi0-puppet just like the rest of em 💯