Filing taxes for Uber drivers is actually easier than you think.
Being a rideshare or delivery driver means that you are self employed, so you must complete your taxes like a business owner.
Determining which expenses are personal vs business expenses is a big key to getting the right numbers together for tax season.
Different ways to file your taxes
If you are looking for the best way to handle taxes, you must hire a CPA to sort this out for you. There will be a cost.
The cost of hiring a CPA to prepare your tax return for a W-9/1099 worker should be $99-$159. Not so bad, considering they are providing you a service and recommending deductions you can take, which can overall save you more money!
Another option is to get the Intuit Quickbooks + Turbotax self employed package. This is a tax software which makes it possible to categorize your expenses from your comfortable computer chair or even from your mobile phone. Quickbooks also allows you to track your mileage from the app.
Before filing, you should be well prepared with all of the documents necessary. Companies like Uber, Lyft, DoorDash, or Amazon will allow you to download Tax Summary reports which you can provide to your CPA, or upload to TurboTax.
At the end of each year, the companies you contract for will provide you with your 1099 form. Hold on to these, or print them out from the website so that you can bring this with you when you meet with your CPA.
Also, if you have been doing bookkeeping with Quickbooks, you can go to reports to print out your income and tax documents. All of your revenue, costs, and profits will be shown here.
It’s a great idea to use QuickBooks to develop a Profit & Loss and Tax Summary to provide to your CPA. This is the easiest way to do it.
More information on being a 1099 worker:
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