Good job tracking your metrics. You are averaging about $1.42 a mile in revenue. And gas expense is about 11% of your gross revenue. Good deal with the Toyota Corrolla. I have a 5.7 Hemi RAM 1500 and I'm averaging about $1.26 a mile in revenue and gas is about 19% of my gross revenue. Two different markets, two different vehicles. Keep grinding with the gig work and the YT shorts.
My '14 ram 1500 w/ 5.7 Hemi (8 speed) gives me 33mpgs when babied just right. What about you ? My city is mainly 45 mph speed limits and that seems like the best efficient speed for saving gas
I’ve enjoyed keeping up with your channel. My nice car had a fatal problem in the middle of the pandemic and couldn’t be fixed. I’ve been driving a beater ever since, and I was surprised how much I like it. You never have to worry about where you park, or minor dings or damage. I’m in no hurry to buy a new car.
If you stayed at this Exact pace, You would make $63k a year! $63,092 to be exact. That's decent! However 50+ hours a week is a lot! Now that's not factoring in Insurance, Inspection (Depending on state), I'd say at least new Tires, or even Worse Case Scenario (Which I won't even speak of in fear of Jinxing it)..
The “total expenses” are unrealistic and low. While older vehicles have little economic depreciation they have higher repairs costs than new vehicles. For the last half of 2022 the Federal government reimbursement/IRS allowable rate was 62.5 cents per mile, based on estimated actual driving costs. So a more realistic estimate for driving costs would be $7,489, so a 90 day profit before taxes of $10,370. Though his 90 day out of pocket expense was low because of negligible repair and maintenance expenses incurred, the wear and tear incurred during this 90 days will mean eventual maintenance expenses. Also when comparing self employment like driving to wage employment, you should factor in that you are responsible for all of the 15.3% self employment taxes, not just half. This adds effectively another $793 cost which is not tax deductible when calculating income taxes.
Depends on your area. Your at Chipotle though. Do you get a lot of delivery orders there or next to none. May be able to tell that way but you'll want to look int9
No do not quit your job each day is different I get stack orders allday not even worth it I get a lot of 2 and 4 orders looking for a job right now I live in a very nice area a lot of restaurant no one orders they go get their food
You are putting almost 50k miles on your car a year at this rate. Not accounting for any driving you do outside of work. You will almost certainly kill the car in 5 years or less.
Been constantly watching you for some time now. Wondering how are you almost are doubling your money with the cost of only 12000 miles? Do you calculate it off of purely once you get the food or as soon as you get the order?
Its More than what i make but i have no patience to drive that much...i have no patience to deal with people who order way overpriced crappy food that can get stupid with canceled or " i never got my order" issues
It's not that easy to average $188 a day. I barely got $130 yesterday after paying gas that was less than minimum wage and I was out there on call 11 hours
You can depreciate your car “further” I would add the Corolla as an asset- on your Schedule C. Divide the cost of the Corolla over useful life of 5 years. Example. If your Corolla cost $10K. 10,000/5 years- $2,000 tax deduction for 5 years.
I was think of starting to driving for uber eats but the car I would use is less then a year old . Don't want to put alot of milage on it if I decide to move abroad again .
That's the caveat, the standardize deductions that he has that you may not have. That would lower the overall average, unless everybody would be able to use those same deductions in this example as a template. It takes away from the calculation.
It's about eight fifty a week after taxes and normalized to a forty hour week. Not bad, but not worth the risk. I'd rather wash dishes than risk a car accident for someone's shitty texmex.
No I purposely don't include taxes because I won't know how much I pay until tax season. I paid about 11% last year but there is no guarantee of that again so I just have to wait. I'll make a video about it when I do pay taxes though
At the pace he is on (~$5,600/month) he’d be looking at about 9,900 in SE taxes and 11,440 in federal income taxes for a total of $21,385. After taking a deduction on an adjusted gross income of about 65k - taxable income is more or less 52k. He can expect to pay around 21k in federal taxes. Next would be to calculate state taxes. Realistically he’s probly looking at the range of 40k net income after all is said and done. Minus the depreciation and all the repairs his vehicle will need
@Mazinblaster Zetto this is true but the fact of the matter when it comes to car depreciation is once you put that many miles on your engine it’s really more about the clock ticking down to when you either replace the engine or buy another vehicle. Car repairs don’t always erase the wear and tear from the mileage
@@kryptocaine he’d have to track more than 19,000 miles for deductions to even just match the standard deduction of about $12,600 which was what I factored into the scenario above. Trust me there’s be a crap load of taxes
I have a Subaru Forester and it keeps braking down. I have been doing it for a year. It's not like what this guy earns everywhere. It can take me 10+ hours a day to make $100. I only take high orders to not put useless miles on my car.
Deduct the taxes, deduct the coat to purchase a vehicle, deduct the cost of registration, deduct that these are overtime hours but are paid as regular and you made nothing.
About 1/3 of his income. Probably about $21,000 in federal income. Net about $40k. And after factoring in the depreciation on his vehicle he’s probly gonna be $35,000 income for the year
@@christophermontoya9963 dude ur literally forgetting mileage reductions registrations reductions telephone reductions car insurance he should not be paying anymore than 6500-7000 on taxes
@@twistedtempo200 I didn’t forget. Take a look at my breakdown. You’ll see I averaged his income at $65,000. And I set his Adjusted Gross Income at $52,000. That’s about $13,000 in deductions. At the pace he is on (~$5,600/month) he’d be looking at about 9,900 in SE taxes and 11,440 in federal income taxes for a total of $21,385. After taking a deduction on an adjusted gross income of about 65k - taxable income is more or less 52k. He can expect to pay around 21k in federal taxes. Next would be to calculate state taxes. Realistically he’s probly looking at the range of 40k net income after all is said and done. Minus the depreciation and all the repairs his vehicle will need
Uber eats life per year $72,000 year $24,000 gas $1,000 basic maintenance done yourself, not including engine or transmission $7,000 taxes $18,000 rent or mortgage $9,000 credit card debt $4,000 utility =63,000 72,000 - 63,000 = 9,000 So those 72,000 a year will become 9,000 If you pay more than $1,500 of living them you will have $2,000 saved
No. Realistically his taxes will look more like this: At the pace he is on (~$5,600/month) he’d be looking at about 9,900 in SE taxes and 11,440 in federal income taxes for a total of $21,385. After taking a deduction on an adjusted gross income of about 65k - taxable income is more or less 52k. He can expect to pay around 21k in federal taxes. Next would be to calculate state taxes. Realistically he’s probly looking at the range of 40k net income after all is said and done. Minus the depreciation and all the repairs his vehicle will need
I've been doing Uber eats for a couple days now and I've made almost $400 also I got a $30 tip today!
Nice!
Bruh 👁👄👁
In UK max tip is £15 😢
Enjoy ur honey moon phase soon you will be flooded with $2 orders going 7 miles or more
How is it now u state side? State?
Them Toyotas are just indestructible they are the best cars for this
@@TheClamy8911lol stop looking at the negative dumbass
@@TheClamy8911 what does that have to do with this
Good job tracking your metrics. You are averaging about $1.42 a mile in revenue. And gas expense is about 11% of your gross revenue. Good deal with the Toyota Corrolla. I have a 5.7 Hemi RAM 1500 and I'm averaging about $1.26 a mile in revenue and gas is about 19% of my gross revenue. Two different markets, two different vehicles. Keep grinding with the gig work and the YT shorts.
My '14 ram 1500 w/ 5.7 Hemi (8 speed) gives me 33mpgs when babied just right. What about you ?
My city is mainly 45 mph speed limits and that seems like the best efficient speed for saving gas
@@itsdelacruz4123 i think my 2012 Ram is only 6 speed. 😥😥😥
@@BIG1ED2 bro just get a real job, 58hr a week to make that money is crap
@@Augdogfrogslog who are you to tell others how they should live their lives
Bruh, you make deliveries with a Dodge Ram Hemi? Sounds counter productive imo
I’ve enjoyed keeping up with your channel. My nice car had a fatal problem in the middle of the pandemic and couldn’t be fixed. I’ve been driving a beater ever since, and I was surprised how much I like it. You never have to worry about where you park, or minor dings or damage. I’m in no hurry to buy a new car.
Yeah my car is so beat up and that just makes it easier to use for jobs like this
I did 1 order on my electric scooter and it was so satisfying because I didn’t have to pay for gas 😂
If you stayed at this Exact pace, You would make $63k a year! $63,092 to be exact. That's decent! However 50+ hours a week is a lot! Now that's not factoring in Insurance, Inspection (Depending on state), I'd say at least new Tires, or even Worse Case Scenario (Which I won't even speak of in fear of Jinxing it)..
The “total expenses” are unrealistic and low.
While older vehicles have little economic depreciation they have higher repairs costs than new vehicles. For the last half of 2022 the Federal government reimbursement/IRS allowable rate was 62.5 cents per mile, based on estimated actual driving costs. So a more realistic estimate for driving costs would be $7,489, so a 90 day profit before taxes of $10,370.
Though his 90 day out of pocket expense was low because of negligible repair and maintenance expenses incurred, the wear and tear incurred during this 90 days will mean eventual maintenance expenses.
Also when comparing self employment like driving to wage employment, you should factor in that you are responsible for all of the 15.3% self employment taxes, not just half. This adds effectively another $793 cost which is not tax deductible when calculating income taxes.
For sure his brakes and tires will add up
so do you reccomend it? i’m working at chipotle right now and make minimum wage but this seems like a better idea
I suggest you try it on the side. It's not a very good full time job but it's a great side hustle (assuming you do it right)
Depends on your area. Your at Chipotle though. Do you get a lot of delivery orders there or next to none. May be able to tell that way but you'll want to look int9
@@owenlindstrom what do u mean if it's done right ?
No do not quit your job each day is different I get stack orders allday not even worth it I get a lot of 2 and 4 orders looking for a job right now I live in a very nice area a lot of restaurant no one orders they go get their food
I can't factor in depreciation because my car isn't worth anything so it can't depreciate any further. 😂
I feel ya bro 😢
You can't depreciate your car further, but you will need to do for your next car.
I like your edits from one creator to another.
Hello do you do video editing?
You gotta take taxes out of that chief.
#Salute and driving a Corolla is definitely helpful!
Wait why/how free oil changes ? I’m not sure I caught that yet
That's 25% wear and tire on a good tire. You need to use the mileage deduction. You already wrote off about 6k with mileage.
You are putting almost 50k miles on your car a year at this rate. Not accounting for any driving you do outside of work. You will almost certainly kill the car in 5 years or less.
Dat .66¢ per mile is a life saver if you are self employed and drive a lot. Literally took of 13k on my taxes.
Wut is tht app at the end?
Do you have a hot bag? Or is it ok to not use one?
Been constantly watching you for some time now. Wondering how are you almost are doubling your money with the cost of only 12000 miles? Do you calculate it off of purely once you get the food or as soon as you get the order?
Its More than what i make but i have no patience to drive that much...i have no patience to deal with people who order way overpriced crappy food that can get stupid with canceled or " i never got my order" issues
It's not that easy to average $188 a day. I barely got $130 yesterday after paying gas that was less than minimum wage and I was out there on call 11 hours
Wow 10k miles is a one year average geeze make that money !
You can buy a new car with that.
You can depreciate your car “further” I would add the Corolla as an asset- on your Schedule C.
Divide the cost of the Corolla over useful life of 5 years.
Example. If your Corolla cost $10K. 10,000/5 years- $2,000 tax deduction for 5 years.
Any easy way to set up tax?
I was think of starting to driving for uber eats but the car I would use is less then a year old . Don't want to put alot of milage on it if I decide to move abroad again .
What app do you use to calculate your miles?
I used Everlance but it cost $8/mo. Mile IQ and Grindwise are great free options though
Gridwise is free and I’ve used it for over 4 years. It’s a great app!
I've been using Stride for several years,, it's FREE, worth to try it out
At that rate you'll have to buy a new car every 2 years haha goodluck
nice you gas price per day went from $25 to $22 $3 is $3
That's the caveat, the standardize deductions that he has that you may not have. That would lower the overall average, unless everybody would be able to use those same deductions in this example as a template. It takes away from the calculation.
Awsome
It's about eight fifty a week after taxes and normalized to a forty hour week. Not bad, but not worth the risk. I'd rather wash dishes than risk a car accident for someone's shitty texmex.
I want to start doing doordash how much money can make a day and how long and how much deliveries were have to do to make a hundred bucks a day
Could you deliver them on a motorbike, electric scooter, or even a bicicle?
How do you get free oil changes?
How do you pay your rent on that. You must be making more in the areas with more people
What do you use to track your mileage/expenses?
Quick books or Solo is good
how do u get free oil changes
Perfect beat up throw away car to do it in
How do u get your oil changes for free let me kit would help alot
u need like a oil change every month thats crazy
So how does the taxes work with door dash ??
WHERE do you live Colorado ???
How do you get oil changes for free?
Bro what about rent and living utility expenses
Is this after tax?
I was we had more jobs that are basically just side quests
That 1099 nec is gonna screw u
How you get free oil changes
You forgot to factor in taxes ??
No I purposely don't include taxes because I won't know how much I pay until tax season. I paid about 11% last year but there is no guarantee of that again so I just have to wait. I'll make a video about it when I do pay taxes though
At the pace he is on (~$5,600/month) he’d be looking at about 9,900 in SE taxes and 11,440 in federal income taxes for a total of $21,385.
After taking a deduction on an adjusted gross income of about 65k - taxable income is more or less 52k. He can expect to pay around 21k in federal taxes. Next would be to calculate state taxes.
Realistically he’s probly looking at the range of 40k net income after all is said and done. Minus the depreciation and all the repairs his vehicle will need
@Mazinblaster Zetto this is true but the fact of the matter when it comes to car depreciation is once you put that many miles on your engine it’s really more about the clock ticking down to when you either replace the engine or buy another vehicle. Car repairs don’t always erase the wear and tear from the mileage
If he's tracking all his miles he won't have much if any tax due
@@kryptocaine he’d have to track more than 19,000 miles for deductions to even just match the standard deduction of about $12,600 which was what I factored into the scenario above. Trust me there’s be a crap load of taxes
DANG
Have you paid tax
Don't they pay for ur gas or something like that?
Do you know where to get a decent car
How many steps you get in a day?🚶♂️
Deliver food for 24 hours straight
I have a Subaru Forester and it keeps braking down. I have been doing it for a year. It's not like what this guy earns everywhere. It can take me 10+ hours a day to make $100. I only take high orders to not put useless miles on my car.
Can we use someone else's car for this?
Deduct the taxes, deduct the coat to purchase a vehicle, deduct the cost of registration, deduct that these are overtime hours but are paid as regular and you made nothing.
Nah those come off ur taxes as expenses
Hi Owen! What model is your car?
2008 Toyota Carolla!
@@owenlindstrom Thank you! You are awesome dude.
How about taxes
Account for time and a half overtime after 40 hours bc no one should work over 40 hours.
.54 the mile
The replay is my life....
Come home and go right back out. I DD and UE its very good money
How do you get free oil changes? 🤔
It came with the car when I bought it
@@owenlindstrom nice!
58 hours a week ☠️
Oof 😓
😂😂😂😂
No thanks, I'll keep my analytics job instead
Im using a siblings account Im living tax free. (Come get me irs btw)
IRS isn't who you wanna pick a fight with. They got Capone when nobody else could 😂
Uber eats is horrible in fort worth tx
How much will taxes cost
About 1/3 of his income. Probably about $21,000 in federal income. Net about $40k. And after factoring in the depreciation on his vehicle he’s probly gonna be $35,000 income for the year
@@christophermontoya9963 dude ur literally forgetting mileage reductions registrations reductions telephone reductions car insurance he should not be paying anymore than 6500-7000 on taxes
@@twistedtempo200 I didn’t forget. Take a look at my breakdown. You’ll see I averaged his income at $65,000. And I set his Adjusted Gross Income at $52,000. That’s about $13,000 in deductions.
At the pace he is on (~$5,600/month) he’d be looking at about 9,900 in SE taxes and 11,440 in federal income taxes for a total of $21,385.
After taking a deduction on an adjusted gross income of about 65k - taxable income is more or less 52k. He can expect to pay around 21k in federal taxes. Next would be to calculate state taxes.
Realistically he’s probly looking at the range of 40k net income after all is said and done. Minus the depreciation and all the repairs his vehicle will need
Hi how do you track your mileage? Is there an app you use?
Grindwise and mileIQ are great free option!
Realistically 3 oil changes (with good oil no cheap shit) will run you about 300-400
What??? 😂😂😂😂.
LOL bro where are you getting your oil changed?? I get synthetic for no more than $60. 5 minutes and don't even get my ass outta the car
Doesn't seem worth it to me.
More than worth it
Okay Post what YOU just said AND PUBLISH more details on your market! Include when, where, what time and tips!
Owen, are you currently doing the challenge or is this old?
seems old
@@Viewer489 I think so because he’s not doing the challenge rn on tik tok
This is old. I did this last year on TikTok but I'm uploading it daily on YT now
Uber eats life per year
$72,000 year
$24,000 gas
$1,000 basic maintenance done yourself, not including engine or transmission
$7,000 taxes
$18,000 rent or mortgage
$9,000 credit card debt
$4,000 utility
=63,000
72,000 - 63,000 = 9,000
So those 72,000 a year will become 9,000
If you pay more than $1,500 of living them you will have $2,000 saved
Nice!!!
Big car repairs /replacement, other expenses like medical and food for 9k seems a bit tight- unless that's the credit card debt. Nice going tho
No. Realistically his taxes will look more like this:
At the pace he is on (~$5,600/month) he’d be looking at about 9,900 in SE taxes and 11,440 in federal income taxes for a total of $21,385.
After taking a deduction on an adjusted gross income of about 65k - taxable income is more or less 52k. He can expect to pay around 21k in federal taxes. Next would be to calculate state taxes.
Realistically he’s probly looking at the range of 40k net income after all is said and done. Minus the depreciation and all the repairs his vehicle will need
Imagine being a grown man doing Uber eats
No one else but grown men and women do DoorDash
wow… i feel bad i just lost 17k in baccarat last night hahaha
How do you keep track of everything you need for taxes??
I use Everlance forkleage tracking and just put my expenses in a spreadsheet.
Just exposed yourself to the IRS, have fun paying the tax 🫡
Well we all have to pay our taxes, that’s one of our responsibilities for being an American or at least most of us anyway
@@nala3038 deductions, it’s called deductions. Also no reason to be so patriotic. It’s UA-cam, not a political Reddit
For writing off business expenses?? 🤦♂️ yeah he’s in BIG trouble! 🤣🤣
Where at ? ... that's BS 😂😂
How do you get oil changes for free?
How do you get oil changes for free?
It's the deal I had with the dealership I bought the car from