License plates, rent, car insurance plenty of other things you can partially write off
@moneyhustle487523 күн бұрын
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.
@jesseenixon26 күн бұрын
Thats what happened to me, also doesn't pay child care I made enough money for gas only. I LOVED THE JOB I quit and I regret it, I wish I would have just held on
@imystic3838Ай бұрын
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
@kingarcy16Ай бұрын
Why can’t you use your EIN who wants to do a 1099 with their own ssc
@Samantha-ew1jv2 ай бұрын
Can you write off your monthly car insurance payment?
@chasisaac2 ай бұрын
Uhm. The government does NOT pay you per mile. The government allows you to deduct an amount per mile from gross earnings. Big difference.
@nathanmurphy77882 ай бұрын
Have you done it for a year? If so what’s your annual pay, and how many hours a week on avg?
@elmersicllacanales14412 ай бұрын
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?
@V45hTh35t4mped2 ай бұрын
What about quarterly taxes?
@mykids4sale3 ай бұрын
Appreciate the wisdom 🙏 but do you upload your stride tax documents to turbo tax while filing? I wanna make sure I track my deductible but not sure where to put the tax documents I get from stride. Thanks in advance.
@meekraul215philly3 ай бұрын
File this under 1099-k or 1099 nec or misc on free tax USA ?
@christianc29013 ай бұрын
could i write enough gas mileage to get a tax return or will it just mean that I owe nothing?
@narcslayer42373 ай бұрын
As an associate agent, does Redfin pay all of the NAR fees and MLS fees?
@Fulltimesidehustler3 ай бұрын
No, you pay all of them
@Mrnouser3 ай бұрын
Hey my 1099k people
@majesty10xu153 ай бұрын
@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 $13000 for 2023? I always thought that if I chose to deduct mileage that I would have to use the itemized deduction instead of the standard deduction.
@synthesizerisking28863 ай бұрын
What if you have a full time job and only do side gigs sometimes? That is more for full time workers
@Ken-vl4wk3 ай бұрын
The MAJOR THING YOU ARE MISSING is that as a self-employed, you need to pay your taxes QUARTERLY and not at the end of the year otherwise you will pay a penalty fee.
@karunashivshakti3 ай бұрын
Do you get medical insurance?
@t.sierra3 ай бұрын
Do you have to pay them fees?
@CuzOfSteve3 ай бұрын
Do doordashers need to do quarterly taxes or yearly?
@iUseVegas4 ай бұрын
Doordash tells me that Stripe Express will handle the taxes... except Stripe Express does not have any of my income since I started using the dasher direct card... they sent me the 1099-NEC but with 0$ on it... I am trying to file using FreeTaxUSA but they say I need to attach the 1099-NEC to a Business (Schedule C). I do not own doordash... this makes no sense to me... I even put my earnings on the 1099-NEC but FreeTaxUSA says "Zero Income, Refund, and Tax Owed" which is not the case... this is so ridiculous
@iUseVegas4 ай бұрын
Filling out the schedule c on freetaxusa it asks me "Did you make any payments in 2023 that would require you to file Form(s) 1099? Generally, you must file Form 1099-NEC or Form 1099-MISC if you paid at least $600 in rents, services, prizes, medical or other payments to someone who isn't your employee." again, I do not OWN doordash... why the fuck is it like this????
@iUseVegas4 ай бұрын
they also ask for a value for my qualified business income ...
@iUseVegas4 ай бұрын
Well I managed to fill it all out and it says I owe $78. Should I pay it now or try to file differently? I suck at this
@PaulGraham_JR4 ай бұрын
How do you manage the schedule between DoorDash and Redfin so you don’t lose your DoorDash shift if you do something for Redfin?
@bigdaniel9954 ай бұрын
What if I made less than $600 doing the gig work? Do I have to pay tax?
@user-sg1fw9yl1e5 ай бұрын
Do you need to be licensed to be an associate agent?
@M4RI4TIGER2 ай бұрын
Yes
@dddavid1325 ай бұрын
Im confused why is the listing agent there as well? you said first time meeting listing agent and their client? also can you decline a showing if its too far away or not worth it
@MichaelSimsRealtor5 ай бұрын
Can an Associate Agent get a referral fee? Like let’s say I have someone from my sphere that I refer to an agent outside of redfin, would I be able to get a referral fee?
@mratedkilz10155 ай бұрын
You don’t have to worry about this unless you’re making over 50,000 a year just take the standard deduction
@sk8n8544 ай бұрын
Where is a standard deduction 50k at? Last I checked, it's like 15k for single with no kids.
@lifewithkimberlyxoxo5 ай бұрын
Also what if you're taxed right offs are more than what you earned
@lifewithkimberlyxoxo5 ай бұрын
Why does tax summary grom app year amount earned not match the 1099
@tallycahamuhlhetru263 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.
@shanaycass09245 ай бұрын
Car maintenance can you add along with the other items you listed to add under expenses?
@aig54295 ай бұрын
It does make me hesitant that do these apps really pay off? Hell I gotta fill up my tank and get an oil change
@ctg85635 ай бұрын
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?
@chloestarks59935 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.
@karinavillalobos44245 ай бұрын
I just started to do Uber 01/17/24.
@zibtihaj32136 ай бұрын
I am an agent in the NJ area,,,, who is this hustle now 2024 ?
@Tony-xc5sk6 ай бұрын
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 $5 bucks a month which is also an expense.
@yuliyazybtseva88286 ай бұрын
Best advice ever 😂, I don’t understand anything in this, but sounds legit 😂❤
@WorldWondersteam6 ай бұрын
I dont have the gas receipt 😂and other expenses not even mileage
@ashleysanders29895 ай бұрын
My situation 😢
@emilyfeagin26736 ай бұрын
Putting 25% aside from any 1099 activities is an excellent idea. Be it insta cart or real estate
@edensgardenshed96226 ай бұрын
Lets say i am also mowing lawns do i just blend all the businesses lawns, instacart ect. together in checking account and write offs?
@Ink305 ай бұрын
Yes
@sarapenn54746 ай бұрын
I burnt out after 12yrs in medical, its keeping us afloat while I work on my business.
@GooglyMcDoubleface7 ай бұрын
My late father worked as an accountant, and he often provided valuable advice. However, I’m open to listening to insights from other accountants as well. It’s surprising how many people confuse gig work with traditional employment. In my own experience, I engage in reselling and shipping, which has proven to be financially rewarding. I even hire Doordashers to handle package deliveries, ensuring they receive fair tips. It’s unfortunate that not everyone fully understands these distinctions. Speaking of insurance companies, they play a crucial role in our lives, yet their complexities can be baffling. It’s essential to stay informed and make informed decisions. 📊💡
@jasonguevara48578 ай бұрын
Usually do you save more money if you decide to keep track of the gas you spend or by using the standard percentage rate set by the irs?
@sammcclain1295 ай бұрын
I don't know if you're still looking for answers but from what I've gathered it's supposedly better to just take the standard. This is my first year dashing so I'm trying to learn as well
@Taitea_____8 ай бұрын
bro wht if i buy the iphone as finance do i still get 500$ off???
@vanitharadhakrishnan17698 ай бұрын
How do I become an AA for redfin?
@TheHonestTruth8 ай бұрын
Just started. I'm on a motorcycle. I needed a job asap as i was being evicted. DD literally saved my life!
@UneducatedGeologist8 ай бұрын
Met.a couple of these agents. When its good can pick up $1k a week working 30hrs. When its bad, slow, cancels, etc.you make $300 a week for 15hrs.
@lesterdude9998 ай бұрын
the mileage thing.. i track that myself? ive never done this so im curious
@xldeadsniperlx32194 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
Пікірлер
Great video, thank you
License plates, rent, car insurance plenty of other things you can partially write off
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.
Thats what happened to me, also doesn't pay child care I made enough money for gas only. I LOVED THE JOB I quit and I regret it, I wish I would have just held 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
Why can’t you use your EIN who wants to do a 1099 with their own ssc
Can you write off your monthly car insurance payment?
Uhm. The government does NOT pay you per mile. The government allows you to deduct an amount per mile from gross earnings. Big difference.
Have you done it for a year? If so what’s your annual pay, and how many hours a week on avg?
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?
What about quarterly taxes?
Appreciate the wisdom 🙏 but do you upload your stride tax documents to turbo tax while filing? I wanna make sure I track my deductible but not sure where to put the tax documents I get from stride. Thanks in advance.
File this under 1099-k or 1099 nec or misc on free tax USA ?
could i write enough gas mileage to get a tax return or will it just mean that I owe nothing?
As an associate agent, does Redfin pay all of the NAR fees and MLS fees?
No, you pay all of them
Hey my 1099k people
@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 $13000 for 2023? I always thought that if I chose to deduct mileage that I would have to use the itemized deduction instead of the standard deduction.
What if you have a full time job and only do side gigs sometimes? That is more for full time workers
The MAJOR THING YOU ARE MISSING is that as a self-employed, you need to pay your taxes QUARTERLY and not at the end of the year otherwise you will pay a penalty fee.
Do you get medical insurance?
Do you have to pay them fees?
Do doordashers need to do quarterly taxes or yearly?
Doordash tells me that Stripe Express will handle the taxes... except Stripe Express does not have any of my income since I started using the dasher direct card... they sent me the 1099-NEC but with 0$ on it... I am trying to file using FreeTaxUSA but they say I need to attach the 1099-NEC to a Business (Schedule C). I do not own doordash... this makes no sense to me... I even put my earnings on the 1099-NEC but FreeTaxUSA says "Zero Income, Refund, and Tax Owed" which is not the case... this is so ridiculous
Filling out the schedule c on freetaxusa it asks me "Did you make any payments in 2023 that would require you to file Form(s) 1099? Generally, you must file Form 1099-NEC or Form 1099-MISC if you paid at least $600 in rents, services, prizes, medical or other payments to someone who isn't your employee." again, I do not OWN doordash... why the fuck is it like this????
they also ask for a value for my qualified business income ...
Well I managed to fill it all out and it says I owe $78. Should I pay it now or try to file differently? I suck at this
How do you manage the schedule between DoorDash and Redfin so you don’t lose your DoorDash shift if you do something for Redfin?
What if I made less than $600 doing the gig work? Do I have to pay tax?
Do you need to be licensed to be an associate agent?
Yes
Im confused why is the listing agent there as well? you said first time meeting listing agent and their client? also can you decline a showing if its too far away or not worth it
Can an Associate Agent get a referral fee? Like let’s say I have someone from my sphere that I refer to an agent outside of redfin, would I be able to get a referral fee?
You don’t have to worry about this unless you’re making over 50,000 a year just take the standard deduction
Where is a standard deduction 50k at? Last I checked, it's like 15k for single with no kids.
Also what if you're taxed right offs are more than what you earned
Why does tax summary grom app year amount earned not match the 1099
Look for the * on fee amounts. In most cases you can deduct those amounts. They're normally the fees you pay on the app.
Car maintenance can you add along with the other items you listed to add under expenses?
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 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?
Did you make 600 or more? If you did, they should have sent you an electronic form or in the mail a 1099.
I just started to do Uber 01/17/24.
I am an agent in the NJ area,,,, who is this hustle now 2024 ?
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 $5 bucks a month which is also an expense.
Best advice ever 😂, I don’t understand anything in this, but sounds legit 😂❤
I dont have the gas receipt 😂and other expenses not even mileage
My situation 😢
Putting 25% aside from any 1099 activities is an excellent idea. Be it insta cart or real estate
Lets say i am also mowing lawns do i just blend all the businesses lawns, instacart ect. together in checking account and write offs?
Yes
I burnt out after 12yrs in medical, its keeping us afloat while I work on my business.
My late father worked as an accountant, and he often provided valuable advice. However, I’m open to listening to insights from other accountants as well. It’s surprising how many people confuse gig work with traditional employment. In my own experience, I engage in reselling and shipping, which has proven to be financially rewarding. I even hire Doordashers to handle package deliveries, ensuring they receive fair tips. It’s unfortunate that not everyone fully understands these distinctions. Speaking of insurance companies, they play a crucial role in our lives, yet their complexities can be baffling. It’s essential to stay informed and make informed decisions. 📊💡
Usually do you save more money if you decide to keep track of the gas you spend or by using the standard percentage rate set by the irs?
I don't know if you're still looking for answers but from what I've gathered it's supposedly better to just take the standard. This is my first year dashing so I'm trying to learn as well
bro wht if i buy the iphone as finance do i still get 500$ off???
How do I become an AA for redfin?
Just started. I'm on a motorcycle. I needed a job asap as i was being evicted. DD literally saved my life!
Met.a couple of these agents. When its good can pick up $1k a week working 30hrs. When its bad, slow, cancels, etc.you make $300 a week for 15hrs.
the mileage thing.. i track that myself? ive never done this so im curious
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
Hey scooter the party is over.