TurboTax + Uber: Tax Tips for Uber Drivers [Webinar]
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- Опубліковано 8 чер 2024
- turbotax.intuit.com/personal-... TurboTax + Uber partnered to bring you this informative tax tip webinar about filing self-employed income taxes as an Uber driver.
TurboTax tax expert Alexis Hartford answers your questions about filing taxes as a rideshare driver, self-employment tax credits, tax write-offs for vehicle expenses, mileage and other common tax deductible driver expenses - even your Spotify subscription! - to help save you money on your taxes. Visit your driver dashboard for special offers on TurboTax Self-Employed products. Start today and save!
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You are amazing 🔥🔥 it’s really helpful❤️❤️❤️ thanks a lot❤️
wish i would of seen this before purchasing turbo tax home and business software...
So at the end we would have access turbo tax only from page uber or left only then add if there is w2 into there and other source income , if I'm not mistaking right, not to do it separately w2 online then c99 only from app ?
Love your channel. Thank you for all the hard work and detail. My question is about the (Uber Eats) Uber Tax Summary. There is a "Gross Payment", then "Expenses, fees and Taxes", Table 2 - "Additional Payments from Uber or Subsidiaries" and "Your Net Payout". I am not sure how to apply these factors to the tax return.
They didn't explain what to do when you don't get the form, meaning how to file it properly.
exactly, she was talking about “I’ll go more in depth later” & later she seemed to just punch in random numbers then be like”that’s it, that’s how easy it is”
Yeah, I think you're supposed to put the Gross Earnings and then put the Expenses, Fees, and Tax in expenses.
Do I include Uber and Lyft income in the Rideshare Driving category?
Was hoping this would assist for my 2019 filing but Turbo Tax isn't giving me the option to file as self-employed. Did the Turbo Tax platform change this year? And no I didn't use Turbo Tax last year or any year prior.
Hi, under tax info in your Uber account dashboard, there is a section called certification and under that, next to question 2, it states "I am not subject to backup withholding because: (a) I am exempt from backup withholding"... then under question 4 there is a box you can check or uncheck that states " applies to number 2 and by unchecking this box, Uber warns; "Warning! By unchecking this box you would instruct Uber to start backup tax withholding on your earnings, as the IRS has indicated that you are subject to backup withholding. Does this mean Uber will deduct taxes each time they pay you, which is Mondays and Thursdays?. What does this mean if you leave that box checked? Thank you.
This was very helpful
I created a business entity in my home, where I keep all my receipts, back up videos of my dash cam etc etc. Can I file a deduction on that business entity along with the rideshare ?
Thank you!
What about the "Expenses, Fees and Tax"
that Uber deducts from your pay? How do we include those
For expenses and fees on the monthly summary, do I include that somewhere in turbo tax or ignore it? Because I have made $3500 but fees were $1500. So I had 2k in my account. I don’t want to be taxed for the other $1500 they took
Me to
Thank you the information was helpful I was trying to decide between a 1099 miscellaneous and taking the standard deduction vs. Writing off all my gas and food car expenses cell phone excetera separately. I know it depends on my tax situation but what do you think I should do? I think that it might be more I'm doing the math as we speak
Hey j G - sorry for the late reply. If you go down the flow you can put in all of your expenses and the program will figure out which is best. Some of the expenses are factored outside of the vehicle expense section so for example cell phone would could either way!
What if I can’t find my receipts for all expenses I made whiles driving Uber and Lyft. How do I still add my expenses whiles filing
what if u drive for uber and lyft how do we add the lyft miles and expenses? also i have a w2 as well please help
If all you have is the tax summary what number do you put in the total income box. The number before or after expenses?
Good question. Did you ever find out? What exactly are expenses and fees? Why did they take it out of our gross?
When you are typing it in manually if you could please show us where you’re getting these numbers either from the 1099 or the summary it would help a lot. Also the app is not providing option to import. I will be heading to the local library to see if it will give me that option when I’m doing it off the computer.
Do I have to file as a walker even tho I just started I didn’t makes more than 600 dollars yet
I followed all steps but at the end it says to fix and error on form 1099nec schedule c box 1. What goes there??
why is the Free self employed link so difficult to find uber account? its only showing the quickbooks discount link
Hello! How can i transfer my quickbooks into turbo tax for this year 2021?
Tried filing with Turbo Tax, but there were so many random problems and questions that popped up. It was much harder than I expected. I'm going to try another program, this one doesn't work well and I don't think the way Uber is reporting taxes is correct. None of the other delivery services report taxes the way that Uber does. I think they are trying to scam drivers into paying taxes that Uber owes.
How do I report income from peer to peer car sharing like Turo or Hyrecar?
Love from my heart
Where did u get the EIN u typed on the file ?! Do we have one ?
My biggest questions that keep getting confused with is: Do I need to pay my quarterly taxes? Because on the IRS website it states as a self employed independent contractor, I am required to pay to estimated quarterly taxes, and if don’t do it by each quarter then I will get fined and will owe more money at the end of the year? Does this not apply to Rideshare with Uber and Uber Eats?
Thank you in advance for your answers and time.
Hi Joe- The United States income tax system is a pay-as-you-go tax system, which means that you must pay income tax as you earn or receive your income during the year. If you are an employee you have taxes withheld through your paycheck in a continuous manner throughout the year, pay-as-you-go. Since you are self-employed you don't have that repetitive withholding therefore the IRS wants you to make estimated or quarterly tax payments based on your projected tax for the year. If you DON"T pay your taxes throughout the year and you are required to do so (based on IRS rules) you might face an 'underpayment penalty' -for 2019the interest rate is 5 percent per month with a cap. Some folks just opt to pay the penalty as they would rather keep their money throughout the year, and some don't want the tax bill.
HELP PLEASE! Uber Eats & DoorDash worker here. Filing on TurboTax. Where do I put my gross earnings & net payout? Where do I put my expenses, fees & tax to claim them? Both my 1099MISC don't have a box for this. They only have one number. Box 7 Nonemployee Comp. I already did my deductions such as cell phone, miles, gas, supplies, food/drinks & repairs. At no point did I see a spot for gross earnings, expenses, fees, tax & net payout. Also, where can I find my tax summary for DoorDash? I have the Uber Eats one already.
What if I received my 1099-NEC but it’s almost 13,000$ lower than my net payout and gross pay?
Can I use the standard mileage deduction if I am using my wife’s car, but got my name as the driver in insurance.
I just started driving for Uber in December, will I still receive a tax summary? Do I need to report it even if it's only a few hundred $?
Hey Erin. You will receive a tax summary for any driving you did in 2018. Any income listed on that form will need to be reported.
Thanks for such great insight, I drive for Uber I make about 2k a wk but pay 500 for car rental and about a 100 for gas weekly where would I be able to add these expenses that I incur from the company I’m renting the vehicle from?
Mr Hansen you’re not.. customers can report you but if that’s a risk you’re willing to take certain rental companies like Avis are actually cheaper than getting a rental from Uber’s partners even after their promotional offers.
In big cities like nyc, tlc cars rented or leased from private owners/fleets, and they are special number plates etc. For which drivers pay weekly as high as 500. I don't know what these guys above are talking g about
To the op, you will have a section for expense deductions where you would include those deductibles. However, I am not sure if rental is considered deductible expense
Will this work for an uber eats driver as well?
So im just wondering do uber drivers even get any noney back?? Or are you telling me we have to lose more money paying taxes??
you dont get money back because no money is withhold from uber. you have to pay taxes for what you received
im doing my taxes right now in turbo tax .... just on uber $5300 in gas, insuranss $1600, tires $2000, just oil change $800, phone $1500, car payments and interest $5000, tolls 800, miles 50k, tax owe was 16k now adding this deductibles and a dependent i owe 8k in tax for 2019 not to include food and home bills and the lost my car in a car accident driving someone from the airport, don't get me wrong i like ubering but ubering fxxked me up... i lost money and a car
@@younkool sounds like you need to reorganize your life. $5300 in gas what are you driving a boat? $1600 for car insurance do you get in 3 accidents a week? $2,000 for tires.....again, do you drive a boat on wheels? Does houdini change your tires for you? $800 for oil changes.....Go to auto zone, buy a drain pan, a wrench, oil and a filter. Takes 20 minutes to change it. You need guidance.
Kiekeiekeiekeiekeie@@mediaguy4037
DEAR TURBOTAX. YES ITS GREAT THAT YOU MAKE A VIDEO FOR YOUR ADVERTISEMENT AND MAKE IT LOOK USEFUL. WHY FILLING INSTRUCTION IS MISSING AND WHY YOU GUYS NEVER ANSWER YOUR FOLLOWERS QUESTION???
I had the 1099 nec and stil had to show the tax summary on Uber to my accountant and I owe them money in states taxes
I have a w2 as well from another company. Would I still be able to file this easily as well?
Yes, just follow the prompts. There is one for "w2" option
If I lease, and don’t own my car that I use for Uber, can I deduct a portion of the lease payment proportional to the business use of my vehicle.
Hi Daniel- When you mention lease are you referring to renting the car or leasing from a dealership. If you are leasing the car from a dealership you have the option to take either standard mileage or actual expenses when writing off your vehicle (if you otherwise qualify). Your lease payment would be calculated in the actual expense method and then compared to standard mileage, you should then take the larger of the two. TurboTax will help calculate whichever one is more beneficial!
I only have a summary , just a little over $600in net earnings . do I only insert that in box 7 and not the gross earnings?
did u find out?
I think i just felt in love
If I deducted mileage last year, can I deduct actual expenses this year?
totho8.
Yes you can.
I’m glad you started with Mileage Rate deduction for your business last year, because If you started with Mileage you can switch back and forth for the coming years.
But if you had start with Actual expenses, you would have stick with it.
I hope that make sense
I need help. I’m a part time uber driver just started last year. I was finalizing my tax on TurboTax and it’s asking me for Tax ID number. It says click the box if I don’t have one.
After clicking the box ang hit continue keep going back to that same page where it’s asking for tax is number.
Its your social security number
Can I file my w2 and misc1099 separately
Please explain?
Hi there- You can use one product to enter both your W2 and 1099MISC. You won't combine them. You will enter the W2 in the Wages and Income section and the 1099MISC in that appropriate section as well.
If the discount isn’t applied DONT FILE. Logout, Refresh your cookies(delete your browser history). Login to Uber, click the discount link again and it should show up. :)
I try many times already but it still charged me $120+$50=170
will uber track your mileage?
My gross is less from my ride sharing
And I didn't receive a 1099. Do I still file
Yes you do
A 16min Webinar?
Can I write off my payments for my car if my car is an Uber/Lyft program? I have have two cars and only use one for Uber. (I made 53k with Lyft in 8 months and have never done my own taxes)
If you rent the car you deduct the rental payments. If you bought the car you can write off Mileage or Depreciation, whatever is higher is recommended.
Thanks
@Turbotax I'm a uber eats driver and I'm confused, I'm doing the turbotax self employed for the first time and need major help what does it mean when it says "what is your business name and business address?" I don't understand
You are self employed, so just your name and home address
What they don’t tell you is Uber has a copy in your app for current and previous 1099s
Turbo tax is asking me to fill out a dr-405. Why?
Why am I not getting the Self-Employed for free? And I have to pay to file state and fed together!
Whats the best way to not have to pay taxes owe if Im drive for these companies? Any tips whereby I can get a tax refund instead of possibly owing ?
You have to pay taxes. Can't hide from it.
Tax refund, by definition, is the refund you get what you paid in. So, not sure if that was a serious question. Other than that, your tax is assessed on net income after expenses. Expenses reduce tax liability
@@mysteriousjz how do I do it do I pay in during the year and how much ?
@@mysteriousjz I understand the basic 101 of it all I'm trying to get savvy about it you know knowledge of the ins and outs. There are information and laws that can be beneficial.
CANI FILE MARRIED JOINTLY IN THIS PATHWAY?
Where do I enter child care expenses for an Uber driver?
I don't think childcare expenses are considered business expenses. You pay for your child from money you make. That's why you are working
Can I deduct my spotify subscription?
Did you subscribe to Spotify with the intent to delight your passengers? If so you should deduct the business use portion of your subscription. If you are only using it in your car for your passengers go ahead and deduct the entire amount. If you are using it for personal use as well just prorate business vs personal.
Can sombody tell where to find the link threw uber to get turbo tax self employed for FREE...THE PAGES U ARE SHOWING DOES NOT EXSIST ANYWHERE. im sorry but i dont think it exists... seems like its a scam to me so far. uber only shows quickbook selfemployed for 5 dollars a month... somebody please tell me im wrong and crazy.
Same, last year it did now its charging me
i hope they correct their mistakes, when our 1099s show up
you pointed to the gross income category when you said which number you will be paying taxes on. self employed people pay their taxes on their net income, not gross income. I understand that there were 0 dollars in deductions so they are the same in this scenario but obviously thats not the case for any uber driver where they pay 0 dollars to use the uber app, it costs thousands per year. so it would be helpful if you could clear this up
that's my confusion too. I inputted the net for box 7 and nowhere was asked for the gross income . I'm confused because I don't know if I need to mention it at all bc turbo doesn't ask me
still NOT free for uber drivers... u guna fix it or what ?
How much was it? H&R is $100.
There is no free offering option
Why use an example that has $0 for fees and tax, etc?
5
Do rideshare drivers have to pay quarterly taxes ?
why does the summary
report show more that what you actually made? Trip Earnings + Tolls + Tips = Total earning. However ubers total shows more than you make. Also turbotax messed me up last year. Turbo tax showed i was getting a refund and irs said no after the efile was accepted. I wounded up owing IRS $300 instestead of getting the refund. I believe that was due to turbotax algorithm and obama care mixup.
You would never be getting any refund as self employed unless you were periodically paying taxes throughout the year. And rideshare, nor other contract companies, withhold any taxes from your pay. So you are confusing something there
uber just sent me a generic looking form with how much i made. have no idea if its 1099misc or 1099k.
This video is not clear. Doesn't talk about state taxes or the fact that you can only take standard deduction (53 cents per mile) OR expenses. You CAN'T DO BOTH!!!
it wont let me do it for FREE!!!
Can you imagine some people has no idea what you talking about Like bill gate ل
2:10 thank me later
Luis Garcia thank you!
Bull!!! not easy
👎 6:26 when you filled in your answer to a question and said : I work in ideshare driver !!! Instead of I work in rideshare driving, it immediately comes to say what type of logic you have .. it’s either you don’t make sense or TurboTax doesn’t make sense or both ... what type of person TurboTax has picked up to explain their product !!
Its hilarious that once an Uber driver pays taxes hes lost a ton of money, PLUS you put a GAZILLION miles on your car! Uber certainly has gotten over on everyone on this scam!
Is the gross payment that mess everyone up since is money that’s not actually made
Love from my heart