Jun 18, 2020 | Airbnb Taxes, Rideshare Taxes, Tax Tips
If you participate in the sharing economy by working as a 1099 contractor or by renting your home on Airbnb, you know that you will likely be required to pay taxes on your income. But just how much do you need to save in order to cover your estimated tax payments?...
Read more
Jun 1, 2020 | Rideshare Taxes, Tax Tips
Driving for rideshare is a great way to earn money at your own pace, but it complicates your tax situation too. You work for yourself, so there’s no one to withhold taxes from your check. You’re responsible for paying your own taxes, but you can reduce...
Read more
May 28, 2020 | Rideshare Taxes
If you drive for Uber and Lyft, you’re a small business owner. You don’t work directly for the rideshare company, so the IRS views you as an independent contractor. Since you’re not an employee, the platform doesn’t withhold any taxes from your...
Read more
Mar 3, 2020 | Depreciation Tips, Rideshare Taxes, Tax Tips
As a business owner, tax deductions are your best friend. By leveraging your qualified expenses against your income, you can effectively lower your tax obligation. When it comes to qualified expenses, the IRS allows a lot of regular business expenses to be written...
Read more
Feb 26, 2020 | Legal, Rideshare Taxes, Tax Tips
Navigating the complex nature of self-employed taxes can leave you with a lot of unanswered questions. How does the IRS tax my Lyft income? Do I have to report my income from ridesharing? Will I get a 1099 form? These are just a few examples of common questions about...
Read more
Feb 25, 2020 | Rideshare Taxes
If you drive for Uber or Lyft, you have two options for deducting your vehicle expenses. Drives can choose to take the standard mileage rate or Section 179 deduction. The standard mileage rate is the most common, but it’s not always the best option. In fact, you...
Read more
