TurboTax Canada Uber Partner Webinar for the 2017 Tax Year
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- Опубліковано 17 тра 2024
- Watch this 40-min on-demand TurboTax workshop to understand how to properly report your Uber Partner income and expenses. Note: For up follow questions to this video as well as for product sport, visit TurboTax Community turbotax.community.intuit.ca/...
For our Guide for Uber Partners visit: bit.ly/2F9YDvo
For Accounting Methods for GST/HST visit: bit.ly/2EYUp6B
For Tax Preparation Tips for Uber Partners visit: bit.ly/2BPmO05
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Thank you. I use this webinar every year to update myself on how to file.
I wish I could double like this video - I've come back to it every year since. Thank lots !
Thanks for the clear explanation of the video. It is really resourceful. How do you determine the CCA amount for a particular vehicle in a fiscal year?
Thank you for this video. 🙌🏻 Informative & direct.
Do we need to track milage on each individual trip or can we just use the total milage driven for the shift for ubereats?
is a balance sheet needed? I am filing as sole with my shopify store
does all this info pertain to ubereats as well?
It isn't clear what to do with Uber Fee, Uber Booking Fees, and Uber Rider Fees. I think they are all deductible as they are removed from payment. Please advise.
That helped me a lot, thank you.
We're so glad we could help you out! :)
What is someone is doing Uber as an incorporated business? Does process for filing in TurboTax change?
In what place to put safety standards certificate? Other expenses?
How do you claim a vehicle that you did not purchase in the same year you started driving for uber?
How about if you have your income from employment and commissions from homebased travel business they issued T4A how do you treat that .
Hi I am watching the video and thinking whether a driver should incorporate a company to make all the deductions, instead of reporting all the expenses on personal T1 General
do i still need to file my taxes if i make under 10k
You guys need to do one for Lyft. Lyft is different. Lyft drivers need to subtract Total HST paid on fees from Total Lyft Fees if you plan on using the complex method and use HST paid on fees as an ITC.
Also she didnt mention that you need to remove hst from your expenses if you plan on using the complex method to do your HST Return and use the hst paid on expenses as ITC
can a leased car be entered as capital cost?
At 29.20 it shows Register with Canada Employment Insurance Commission for ei. Can a ride share driver sign in for ei
How do I pay the GST amount that I own and how do I know that?
How do I collect GST for Uber Eats? I have a gst account for an unrelated business but most of my income is from Uber Eats...
still relevant for 2019 tax year?
Thanks. It was very helpful to me :-)
So glad we could help you out! Have you started doing your taxes yet?
yes, I am doing it now.
0:53 Love this moment
What about things that improve ur mood? I know u said not children stuff can be included but I have dogs and get them stuff. If I go work in a bad mood and treat people portly my rating goes down
Really appreciate your video. Re: vehicle expenses. When qualifying to drive with Uber I had to pass a Class 4 professional driving lic., have a police check, apply of a local city livery lic., get a special registration, etc. Over $400 to get started. I view these as 100% deductable and believe I should NOT report these as vehicle expenses as the would be prorated depending on the % of kms for the year. Would this be correct?
Hi Keith! Thanks for the kind words! If all of these fees were incurred specifically to enable your UBER driving, then you are correct. Rather than include these in the vehicle section, you can include them as business fees & licenses or "other" expenses in the business expenses section of your return. It's important to note that only the "extras" can be claimed this way. Regular vehicle license/insurance/ registration fees belong in the vehicle expenses section.
If i did uber only for 3 months, do I have to do all the calculations only for these months, correct?
Also, do we need to have receipts for all these expenses; gas, car wash, windshield fluid, oil change?
Can we add the monthly payments(not lease) on the car or just the interest?
yes you would. uber should be providing you a tax summary on the partners.uber.com site and yes you need receipts for ALL expenses.
Can you specify which version of TurboTax to buy? I'm an employee and Uber driver.
Hi @youcha4 , we recommend using TurboTax Online Self-Employed. Thanks :)
thank you for your helpful video.I work with my wife with a same vehicle.how should we show are expenses?do we need to split all expenses between ourselves?also my vehicle is brand new and on finance,could you explain more for how to fill out expenses for new vehicle? Thank you
Hi, for specific information regarding your return, please send us a DM via this link.
facebook.com/messages/t/TurboTaxCanada
hello, only started with Uber June 2019. fiscal year June-Dec 2019(7months). for expenses like gas ,insurenace, car loan interest would be for 12months or 7months?
7 months
If I worked for two different ride shares services like Uber and Doordash, do I have to submit two different T2125s?
Yes. That is what I learned from other UA-cam
thanks marry
When reporting expenses do you put the amount you paid before or after taxes?
Hi Kevin,
For tax specific questions, please reach out to our support team via DM or you can visit our community page for FAQs and other videos. turbotax.community.intuit.ca/
Support Direct Messages:
facebook.com/messages/t/TurboTaxCanada
twitter.com/messages/19496097-385034351
HI JENNIFER
How do I report airport fee on income tax? Could you please show?
Did you figure out the answer to this question? I can't figure out what numbers to take from my Uber income summary to put into my tax return! If you figured it out, can you pleeeeeease tell it to me? I appreciate it greatly!! I didn't really earn enough money to get an accountant!
I noticed in this video for total revenue, it states in the video excluding gst, in the current 2017 turbo tax online, it states (Including GST/HST/PST) in total revenue. Was this an error in the video?
yeah i got confused as well, and what about uber partner feeses reduction and all
Hi can you please prepare another webinar which includes the recent changes in UBER tax statement
Thank you
Aaron
I don't have a reply but I also have the same question as you.
Hello Aaron and Shahnaz! For additional information regarding ride share and food delivery income, visit our Tax Info Centre FAQ. Thank you for all that you do, and continue to stay safe!
turbotax.community.intuit.ca/turbotax-support/en-ca/help-article/taxation/ride-share-drivers-tax-information-centre/L8IxN8TsM_CA_en_CA?uid=l59obpgv
Hi! Do I rest the Uber rides services fees from the gross Uber riders fares??
Did you figure out the answer to this question? I can't figure out what numbers to take from my Uber income summary to put into my tax return! If you figured it out, can you pleeeeeease tell it to me? I appreciate it greatly!! I didn't really earn enough money to get an accountant.
Hi Jennifer, i already created my acct for turbotax 2017 self-employed as uber driver and I also have a T4 slip. do i do this in separate acct? my wife will also file her income tax too as a regular one. i'm just confused where to start. pls help. thanks
Hi there. Your T4 from employment and your self-employment income & expenses as an UBER partner are all entered on the same tax return. Once you select the options in the Profile section of your return, you'll come to the right sections to enter all the info. For your spouse, you can choose the option to prepare your returns together or begin a new return for her. Hope this helps!
thanks for your prompt reply....really appreciated it.
No problem! We're so glad we could help you out! It's getting down to the wire and we don't want to leave you hanging 😀
Does my tax return includes GST/HST payment? I do not have to pay GST/HST separately?
Your GST/HST activities are recorded on your GST/HST return but you'll also include some of those numbers on your income tax return. Hope this helps you.
Thanks.
Do I need to add HST/GST amount to the total revenue of Uber Statement or it is already included?
If I do both Uber and Lyft, and its both under the same business account. Should I simply add both of the revenues together or do I have to file it separate?
Separate
Hello TurboTax, Can I still file my return without GST/HST account? I only have $6,000 income for the whole year. Thanks!
And what if I'm only doing uber eats by bike? How can I do the vehicle expenses?
For those delivering (Ubereat) by bicycle... how about the mileage ???
Hi, for specific information regarding your return, please send us a DM via this link.
facebook.com/messages/t/TurboTaxCanada
Hey I am an Uber driver in quebec using turbo tax. Can you help me out with this section of GST/HST& QST. Please. I don't know what to put in that section
Hi, for specific information regarding your return, please send us a DM via this link.
facebook.com/messages/t/TurboTaxCanada
what if I dont have my recipt of expenses like, oil change, gas, windshield fluid, repairs ect? I am new to Canada and this is my first year to file my tax for uber and lyft?
I need a help in this regard !
lukos3211 thanks man for the helpful comment
@@muniromerzada6504 I forgot, if you bought winter tires or summer tires go to the store where you bought them. They more than probably still have the work order for it (they will be able to print you a copy of the receipt). Tires cost a lot so do not forget them.
As an Uber Driver if I make less than 30k/year in revenue do I have to register for hst number and do i have to claim ??
Hi Malak, Yes you should register for the HST number and need to Claim it in your tax return.
do you get the answer?
Has anybody done this yet and does it really work. And did you receive your money
Hi there. TurboTax Self-Employed definitely works :) What can we help you with?
1. How do I claim my music subscription with Google play as an expense?
2. I purchased a new cell phone in 2017, how do I claim it as an expense?
3. What is the quick method rate for Quebec?
1. Your Google play subscription should be entered as a vehicle expense as it will be a pro-rated amount. Use the "Other" category in the vehicle expenses section.
2. You may deduct the cost of the cell phone itself if you used it exclusively for business. Cell phones are considered to be a capital asset so you'll take a Capital Cost Allowance rather than an expense (class 8). Enter this in the CCA section of your return.
3. The quick method rate for Quebec is 3.6% for the GST and 6.6% for the QST.
I just realised that my total deposit in my bank account is less than the amount on my Income Tax Summary for 2017. I deducted all the fees and there is still a 292.31$ difference. Which amount should I use for my income tax?
Would this all be similar for filing for Skip the Dishes?
Hi Jeremy, are you referring to: if you were a driver....?
@@TurboTaxCanada Yes I am a courier for Skip
@@jlewal Your expenses could be somewhat different, but couriers fall into the same category of self-employed as Ride Share drivers.
@@TurboTaxCanada Thanks. And what would I do if I bought a new car and sold my old one?
I am doing my own this year using turbo tax, i just released my accountant she never claim my vehicle CCA , my vehicle was brought on 2017 , how should i input ? which line should i put the vehicle cost?
I am not entirely sure but 90% sure about this.
Is your vehicle is a 2017?
You need to figure out your vehicle depreciation then calculate the depreciation for every years and then how much now your car worth at the beginning of the year.
Enter that amount (how much your car worth at the beginning of the year at the line : UCC at the beginning of the year.
If it's wrong please someone correct me.
@@lukos3211 thanks for your input man
In the total revenue amount, do we include the service fees? The 2016 webinar says not to include it but in this video, you did not clarify.
Yes. Service fees are included in the 'Fare Breakdown' listed on the 'Annual Tax Summary' provided to you by UBER. Enter the total income (including this fee) and then enter the service fee as an expense.
Thanks for the Quick Reply!! I need clarification on one more thing... Since Uber started collecting HST after July 1, should we subtract revenue prior to July 1 on this page and on the HST return or do we end up paying for pre-July 1st HST from our pocket?
Hi Mike. Are you talking about the GST return or the tax return. When it comes to GST/HST, it would best best to consult the CRA about your own personal tax situation.
Hi, I am talking about both. For the income tax, the formula you provide in the income/hst page calculates hst using the full year income and then adds it in the last box without taking into account the fact that hst was only collected after July 1.
Hi again Mike, you only need to do the calculation on the income collected since July. Hope this helps!
I am not clear about the GST/HST and PST in the Income and Inventory and why wasnt the HST portion used from the Uber Statements. Secondly i did not follow the Fees and Fares comment about the Split Fare and other fees & Fare deductions as mentioned on the Uber Statement. Comments and instructions were not clear. This is my first year of filing as Uber Partner.
Hi, for specific information regarding your return, please send us a DM via this link.
facebook.com/messages/t/TurboTaxCanada
Does this also apply to UberEats deliveries? I am using an electronic bike, for reference.
Ya bro I don’t know how much it will get 6yyyyy6yyyyyy6666666666yyyy6yyyy
I yet 6$
Yup I’m 6$66y6yy6
I don’t have 6666666866yyy66yy6666b676
Is it for Canada or USA?
Hi Masoud. This is for TurboTax Canada
I drove uber and have another job so have 2 incomes. How do I do this in Turbotax?
Hi Hussain. For more information on how to prepare taxes for multiple jobs please see our blog here: bit.ly/2Hu0zNc
What’s GST & HST again?
Hi Pete. GST is the Goods and Services Tax and HST is the Harmonized Sales Tax.
Income taxes are extortion.
Income taxes are paying a part for the betterment of the whole. Unless you don't like roads, emergency services, or numerous other assistance programs. It's almost exactly the same business model as insurance companies use.
@@calvindibartolo2686... My HST tax, liquor tax, gas tax, property taxes, inheritance tax, carbon tax, cigarette tax, licence tax, road tax, retail tax.... I could go on and on.
We are drowning in fucking taxes.
@@timdumoulin2576 Just for a woman labor at the hospital it costs about $15,000 and this is without complication. But when you go to the hospital you pay nothing. Wonder why?
This is just an example.