Hi there! Merry Christmas! It's great that you're exploring the business side of being an Uber driver. It's especially important to remember that you often have very little time to decide whether to accept a ride, which can sometimes lead to poor choices. I plan to watch your videos more closely and ask more questions because my financial well-being is at stake.
anyone who drives uber for a living is trashing their financial well being unless you have A LOT of money in the bank or your wife makes over $100k. I started rideshare married to a woman who made $150k a year. Now I am divorced and cannot survive on rideshare wages.
maintenance is easy to figure out. It is the unforseeable breakdown or repair is the son of a bitch for most drivers. 2 yrs ago I popped a front tire on a curb and it damaged my arm bars and ball joints. I had to replace 4 tires arm bars and ball joints. That was $2.4k. Then from that repair my rear main seal broke from the pounding of my arm control bars being taken off. They had to pull the transmission from the engine to do it. Then they said your transmission fluid needs to be changed. another $2k in repairs. Thank god I had a prudent reserve at the time. Not many full time drivers have $4.5k sitting in a bank. My other horrible thing that happened on Lyft was I was in phase 2 going to pickup a pax and a semi truck tire tread flew into the front of my car. Because I was in phase 2 Lyfts insurance deductable is $2.5k. The damages were $2.3k. So in 2 yrs I had almost $7k in unforseeable repairs. Driving rideshare will crush your car and your finances. Now on the private side 95% is highway miles and virtually no unforseeable repairs in 2 yrs private. Great job informing the drivers of just how important it is to track every penny spent.
I know that the comment that I am writing does not have to do with Rideshare costs but I thought people should know that when a person earns money on the Doordash or Grubhub app a person gets taxed on the money that goes into the bank. Uber , Ubereats and Lyft does not do decide how much money a person has earned for IRS purposes the same way. Uber taxes people on Gross Trip Earnings and Total Additional Earnings. Just curious does anyone know why this difference exists???
@@tipyouintheapp I am confused I assume that Doordash and Lyft have sales tax associated with their apps. Don't people pay personal income tax no matter which app it is? It still seems to me that Uber,Ubereats independent contractors are paying more in income tax even if they earn the same amount on Doordash. Thank you for being patient with me.
Hi there! Merry Christmas! It's great that you're exploring the business side of being an Uber driver. It's especially important to remember that you often have very little time to decide whether to accept a ride, which can sometimes lead to poor choices. I plan to watch your videos more closely and ask more questions because my financial well-being is at stake.
anyone who drives uber for a living is trashing their financial well being unless you have A LOT of money in the bank or your wife makes over $100k. I started rideshare married to a woman who made $150k a year. Now I am divorced and cannot survive on rideshare wages.
maintenance is easy to figure out. It is the unforseeable breakdown or repair is the son of a bitch for most drivers. 2 yrs ago I popped a front tire on a curb and it damaged my arm bars and ball joints. I had to replace 4 tires arm bars and ball joints. That was $2.4k. Then from that repair my rear main seal broke from the pounding of my arm control bars being taken off. They had to pull the transmission from the engine to do it. Then they said your transmission fluid needs to be changed. another $2k in repairs. Thank god I had a prudent reserve at the time. Not many full time drivers have $4.5k sitting in a bank. My other horrible thing that happened on Lyft was I was in phase 2 going to pickup a pax and a semi truck tire tread flew into the front of my car. Because I was in phase 2 Lyfts insurance deductable is $2.5k. The damages were $2.3k. So in 2 yrs I had almost $7k in unforseeable repairs. Driving rideshare will crush your car and your finances. Now on the private side 95% is highway miles and virtually no unforseeable repairs in 2 yrs private. Great job informing the drivers of just how important it is to track every penny spent.
I know that the comment that I am writing does not have to do with Rideshare costs but I thought people should know that when a person earns money on the Doordash or Grubhub app a person gets taxed on the money that goes into the bank. Uber , Ubereats and Lyft does not do decide how much money a person has earned for IRS purposes the same way. Uber taxes people on Gross Trip Earnings and Total Additional Earnings. Just curious does anyone know why this difference exists???
Uber pays the sales tax. We pay our personal income tax.
@@tipyouintheapp I am confused I assume that Doordash and Lyft have sales tax associated with their apps. Don't people pay personal income tax no matter which app it is? It still seems to me that Uber,Ubereats independent contractors are paying more in income tax even if they earn the same amount on Doordash. Thank you for being patient with me.