So here is an idea. You start your shift with a full gas tank. When you finish your shift, fill back up. Then enter that as your gas cost for the day. That way you know exactly what your fuel cost was that day. Or do it weekly if you do not use your car for personal use.
@AdrianButler862 жыл бұрын
Or use an app that u log into once u head out and it keeps track of all ur miles. When ur done u go back in the app and stop it. This is more accurate cuznu can stop n start it at anytime and it continues at the mileage u last stopped at. With ur method u gotta keep in mind that if something came up like a change of plan n u stop working for like an hour to do something else...... u doing miles that technically shouldn't count towards the work miles u putting in during deliveries. Get what I mean? So say u do deliveries for 3 hrs driving making stops then u stop working n do personal errands or whatever then go back to work. At end of day when u go fill up to do your fuel count it really is not genuinely correct as it wasn't all work related
@PointsPrecision2 жыл бұрын
@@5r6v unless you drive something with horrendous gas mileage like an SUV or a truck, the standard mileage deduction will likely allow you to deduct more than what you actually spent.
@6yap2 Жыл бұрын
Imagine actually telling the IRS only the gas you used for work. Lol.
@garyCauser Жыл бұрын
Here's my idea....use a separate credit card for gas used for business. I use your suggestion to log ACTUAL BUSINESS MILES which I can prove....
@joellee614211 ай бұрын
how can you get deduction with ebike thats just for this?
@neonkuromi2 жыл бұрын
so according to the miles DD sent me, my deductions is more than i owe in taxes. like way more. so i took a financial loss with DD last year
@amerikanviking2 жыл бұрын
Not a financial loss. Did you make more than you spent? Cause if you did, then it's not a loss. It's just a tax write off. If your write off is bigger than what you owe, then you owe nothing and may actually get money back. Which is a plus. So, you earned more and got more back from the government. How's that a loss?
@ronaldvanengen18872 жыл бұрын
In 2021 you get to claim .56cents for every mile driven for DD So say you drove 100miles in a day Your entitled to $56 bucks back in mileage reimbursement!! Just think of the Mileage reimbursement that Walmart and UPS drivers get!! The Mileage reimbursement is a deduction for the drivers not the Corporations!! And those Corporations are paying for the Gas ⛽️ insurance etc It pays to Drive!!
@marianolasco11512 жыл бұрын
How does this make sense ....
@neonkuromi2 жыл бұрын
@@amerikanviking no. i made less than spent
@neonkuromi2 жыл бұрын
@@marianolasco1151 if u can’t comprehend i cant help u
@TemmeTalented3 жыл бұрын
Is it possible to write off your whole car as a door dash driver
@johnchristopher76973 ай бұрын
Great video!
@wueskew1692 жыл бұрын
Excellent video.
@keibowman1996 Жыл бұрын
Thanks for the information.
@ddennis24302 жыл бұрын
When does the business mileage technically begin? From the time I leave to dash to the time that I get home?
@DruedrizzyTv2 жыл бұрын
Yeaa
@LYFEAccounting2 жыл бұрын
Yes, as long as your home is considered to be your dedicated home office
@ndeen54803 жыл бұрын
Awesome video.
@FloppyCheeks.2 жыл бұрын
Subscribed just for putting in shortcuts, much appreciated, keep it up!
@theta1356Ай бұрын
What about renting the car from Hertz at 450 a week is that a taxable deduction
@HalfWiseFennecАй бұрын
Payments to lease a car are deductible yes
@jasondoe57412 жыл бұрын
Solid video
@CordellWallers2 жыл бұрын
I made 36,000 and just went with the mileage deduction and still owed 3,000 at tax season…should I have gone with actual expenses? Should I redo them? I have receipts on my bank account
@Chris-vz2kv2 жыл бұрын
It’s supposed to lower your taxes not get rid of them. 3000 seems right
@tigermarley8646 Жыл бұрын
Was this your gross or net income?
@CordellWallers Жыл бұрын
@@Chris-vz2kv well so I just did them this year with this same income on TurboTax and only owe like $1600…low audit chance so I’m sending her through lol best of luck
@beammeupscottsp795211 ай бұрын
@@CordellWallersso you basically took 36,000 miles as well?
@AlexSage Жыл бұрын
tips are taxed too?
@joellee614211 ай бұрын
can you get deduction from using Ebike??
@yesic22882 жыл бұрын
Great video. How much should we put aside for quarterly taxes?
@fernandomercado45572 жыл бұрын
Did u not watch the video lol?
@AngieBLoveee3 жыл бұрын
Thank you I truly appreciate This Gem 💎
@FinancialFreedomMadeSimple3 жыл бұрын
Great video!
@sarasandbom8 күн бұрын
Can I write off if I stop to get my own lunch somewhere as a door dasher? Can I write off the expense of the lunch?
@KentPetersonmoney2 жыл бұрын
Can I use my car insurance as a write off?My insurance increased significantly after adding ride share.
@futureduncan78768 ай бұрын
Yes, every single payment.
@KMurphy120 Жыл бұрын
What if I use the millage deduction on taxes, but the deductions are greater than what you earned? How does that work? Do you get money back or you just owe nothing in taxes?
@beammeupscottsp795211 ай бұрын
How much did you make and how many miles did you drive, so you’re saying you drive a lot more miles than 1dollar per mile?
@aceebrown9266 Жыл бұрын
Do we even get a return? Do we get any money back?
@latdiahil11 ай бұрын
Can I write off uber booking fees, Uber service fee/other adjustments, Airport and city fees collected? I am doing my own taxes with TurboTax and I am filing self employed. I noticed on "misc expenses" section. It asked do I pay all these fees. I'm asking cause when I plugged the information in, It gave me a big boost in my refund. I made nearly $19K last year with uber but uber took $8K in fees😭 This my first year filing self employment so I guess I'm nervous that I am doing it wrong.
@johnnyk29342 жыл бұрын
Thanks for the information. What would the circumstances have to be for a delivery driver to claim per diem? Would they have to be spending the night out of town away from home to qualify? Also what about the tax breaks for the RV Transport industry who flat tow their own vehicle behind a motorhome? Even though the tow car isn't being driven, there is still a lot of wear and tear on the vehicle, especially on the tires. Would a person be allowed to claim the standard milage deduction on their work vehicle that is being towed behind the motorhome? I'll be waiting for your response..thanks
@marianolasco11512 жыл бұрын
How do we calculate the percentage of the phone bill that’s counts
@rambodumastv7035 Жыл бұрын
Can I use the change oil and the maintenance to my car ? To the tax
@LLStacheLarry10 ай бұрын
Is there a video on showing what info goes where on the tax forms?
@DanEmmons Жыл бұрын
This is a great review of available deductions, but I have a question. I am a rideshare/gig economy, driver across many of the apps and I am paid via 1099, but I don’t use an EIN. You mentioned deductions for a personal vehicle, which is great like tires cost of gas and repairs maintenance. I recently had to spend a lot of money on repairs so that will be deductible. However, I was hoping that you could cover whether the cost of a rental I’ve been using would also be considered a deduction. The rental has been 100% for business related activities.
@FreeHat Жыл бұрын
Not gonna lie, I'm considering doing this for a loss to offset my W2 taxes
@danielahasteen811410 ай бұрын
How do I start tracking stuff like miles and $ amounts of gas after not doing so for almost 3 months since beginning? So that I can use those values to write off
@danielahasteen811410 ай бұрын
I have had to purchase extra gas for sure, each week
@oxtrophy3 ай бұрын
what did you figure out? Ive noticed uber eats & instacart are the only apps that show your mileage per order
@shannonxchanelАй бұрын
That's a great question
@darryboi Жыл бұрын
Is either or? Can't write off actual expenses and mileage?
@ernestomoreno25969 ай бұрын
How do you report two vehicles if you used them to do Doordash and Uber?
@RandomRican Жыл бұрын
This guy wrote, directed and acted every part! Definitely coming back when I'm doing my taxes. lol
@bossmanxll10237 ай бұрын
what about HSA can I deduct if I am invest in it?
@cuteluxe26779 ай бұрын
What if already paid self-employed tax? Could I re-file again LLC as a S-corporation ?
@ashleyd214110 ай бұрын
Can we write off salon expenses or clothing as a door dash driver
@shannonxchanelАй бұрын
That's a great question
@katdaddy8182 жыл бұрын
Great video! Just had a question. I do Uber eats delivery with a bicycle/scooter. Will the mileage deduction .56 cents/mile also apply to delivering with bicycle/scooters or just with cars?
@joshgibson98192 жыл бұрын
Just gas vehicle I think
@kxngfrvnk2 жыл бұрын
Vvvv
@Dabshanks2 жыл бұрын
I live in California is this information right for me
@jerrelncbg62402 жыл бұрын
Let's say 75% of the miles on my car are for business purposes and I want to use the Actual Expenses method for eligible expenses. Would it be correct to multiple my eligible expenses by .75 to determine the business use value? (Assuming I'm tracking my business miles as justification for business use.)
@5starubercar6982 жыл бұрын
See my suggestion in comments
@christian_lied2 жыл бұрын
Thank you for the info
@LYFEAccounting2 жыл бұрын
No problem! I assume you are a driver?
@christian_lied2 жыл бұрын
@@LYFEAccounting Yes, it’s my first year doing this type of thing so I’m learning everything!
@frankzq12 жыл бұрын
Can I deduct car insurance if I use standard deduction?
@emanwizbeats2 жыл бұрын
Where do you find all the miles you’ve used for the year on door dash?
@moisesorozc02 жыл бұрын
You write down yourself at the end of the day so when tax season comes, you write it off.
@debbieoquendo2024 Жыл бұрын
Thank you for information. But my concern is how much I have to pay for my taxes. I am praying that I don’t have to pay a lot. If I do I will pay little by little I can’t pay all at once if it more than 2,000.00.
@wakeywakey8603 Жыл бұрын
What about moving violations while driving to pick up a passenger for Lyft?
@noelopez94932 жыл бұрын
Is it possible to do the standard mileage rate AND the actual expense method. ? Or is it just 1 or the other
@LYFEAccounting2 жыл бұрын
1 or the other
@shericeskreativlane Жыл бұрын
Is this one or the other forever, or can you decide which one you want to take each year you file?
@--JohnDoe2 жыл бұрын
Question. Uber eats allows this, what if I am delivering as a delagate under someone elses account. They do the taxes but the miles were on my car, they don't have a car. Can they claim my miles? Very good video, thank you👍
@lifewithkimberlyxoxo11 ай бұрын
What if the Tax summary in the app amount doesnt match the 1099 amount for the year
@christopherbullens5494 Жыл бұрын
H and r block. Did not let me claim anything but mileage and gas And I had to. Pay for Medicare. Has anyone else does this
@cedriceasley5003 Жыл бұрын
If you use the standard mileage rate in year 1, can you use the actual mileage rate in year 2 or you must use one rate and have to continue using the same method every year?
@ericgrajeda26713 жыл бұрын
Will this work in California....
@deliverwithtazz3 жыл бұрын
What's the video link for the independent contractor retirement plan
@mafman126 Жыл бұрын
So with tax write #5 supplies: i can write off my bike under supplies?
@denisesealey87442 жыл бұрын
Can i do my taxes with you or get a consultation
@justinbosley78082 жыл бұрын
Is there a tax deduction for people who ride Uber as a passenger back and forth to work. I had a driver tell me that?
@Smartbeautifulawesome2 жыл бұрын
I love working for Uber Eats I started doing it full time in 2022 so I'm a little nervous but I feel like my expenses are high so it should even out or I get a little credit
@joellee614211 ай бұрын
how did that worked out?, its been a year
@villardjosue15973 жыл бұрын
Great videos. Can uber drivers take full advantage of tax code 179? Assuming of course the vehicle is strictly for business.
@jasonrock52202 жыл бұрын
I would say yes. If you are operating under an LLC that you have created and the vehicle is registered/titled and insured under the name of your LLC. Also assuming the vehicle weighs more than 6,000 pounds and less than 14,000 pounds. *this is not legal advice. I’m not an attorney.*
@Los614242 жыл бұрын
@@jasonrock5220 delivery services do not allow you to work under an llc
@AdrianButler862 жыл бұрын
@@Los61424 really? Why not? Aren't you working for urself? Why wouldn't u be able to operate as a llc business entity?
@Los614242 жыл бұрын
@@AdrianButler86 they dont have an option for it when signing up
@arvind013192 жыл бұрын
TIPS i got from customer will be included in income tax or not ???
@LYFEAccounting2 жыл бұрын
Tips received are considered to be taxable income
@bluewj66382 жыл бұрын
Hold the phone.. So I need to open a LLC to take advantage of most of this?!
@AWholeVibe962 жыл бұрын
The IRS has raised the amount since then so instead of .56 it's now .625 🥳
@metaphor2392 жыл бұрын
Amount of what exactly?
@ezeraeham85892 жыл бұрын
@@metaphor239 $ per mile!
@pmyers3662 Жыл бұрын
Only for half the year
@DB-vz6xk Жыл бұрын
@@ezeraeham8589 $6.25 per mile now?
@MariaOrtiz-yd5qs Жыл бұрын
From July 2022. Before it was the .56
@_SGT_Sasquatch2 жыл бұрын
I plan to start an LLC soon for a transport business. So I’m able to work under my EIN/LLC for DD/UE?
@frankiecarrrierivg032 жыл бұрын
But what if I also work for W2 my fica taxes is calculated right?
@k_sstrap84982 жыл бұрын
thank you
@jourdanjohnson43572 жыл бұрын
Can we write off the miles of us driving back home from Uber with the app off or non receiving?
@MCTennn2 жыл бұрын
Yep
@therobertskids16562 жыл бұрын
Can we turn doordash into a business with tax if number and not use or ssn?
@thomashudson36942 жыл бұрын
What if I'm on disability and get social security Medical insurance do I still have to pay into the Social security
@njg54662 жыл бұрын
Do you guys have a business address where we can go and do our taxes?
@LYFEAccounting2 жыл бұрын
We can do a virtual appointment
@LYFEAccounting2 жыл бұрын
lyfetaxes.com
@matthewramsey5239 Жыл бұрын
I’m scared will I owe and how much?? Any possible way after deductions that I’ll get any money back
@audox48853 ай бұрын
You didnt even pay ur taxes yet and ur thinking of money back?😅
@jfhfhfhhdh3 жыл бұрын
So if on my nec says 2500 I only pay 2500 for taxes without including deductions?
@owe_damonty77752 жыл бұрын
Is there any benefits for tax deductions for social security disabilitity.
@Ink30 Жыл бұрын
If you get a large amount of social security and need write offs then yes
@HerobrineGaming2 жыл бұрын
What about the quarterly estimated tax payments?? Do we just file those using in-app earnings reports? I'm new to doordash -and the tax world in general 😅
@musicpqwer3455 ай бұрын
Just pay a cpa you can find cheap rates on fiver
@coachq86452 жыл бұрын
I'm in atlanta
@cherisethomas16693 жыл бұрын
Is documentation needed for the 5 write off you mentioned? If so, what kind?
@LYFEAccounting3 жыл бұрын
Well you want to document as much as you can, especially mileage. There is no specific documentation process, so there are many ways to do it. You just want to think in the mindset of "how can I prove this write off?" It may be as simple as keeping a receipt or invoice
@jacklyncramton29582 жыл бұрын
Can you only deduct parking & tolls if you use the “actual” method to calculate taxes?
@yamaina4782 жыл бұрын
No you can deduct that even if you use the standard milage rate option. It's separate from vehicle expenses. :)
@GtZkInGz01 Жыл бұрын
Can I write all of these off without an LLC ?
@Ink30 Жыл бұрын
Yes , soul proprietor its called
@4me2know4 Жыл бұрын
Write offs or deductions?
@ndeen54803 жыл бұрын
I work a full time job and have a tax shelter with my job. Can I also open a Solo 401k for my small business that I recently opened?
@Ink30 Жыл бұрын
Yes
@snazzyjazzyshar Жыл бұрын
❤ 7:18 7:21
@11BarriosJL3 жыл бұрын
can we write off the miles driving back home?
@andrewwilde83272 жыл бұрын
I dont think so, only the Miles driven when you're activity taking orders. I could be wrong, but this is a safe way to go
@AishaMBudgets2 жыл бұрын
Yes
@MotivationTrendsLaughs2 жыл бұрын
what about delivery bikers?? this seems to cater only to people using cars. any info for delivery bikers?
@manleteater19702 жыл бұрын
You can most likely write off the whole bike (if you bought it that year), any bags you buy for transporting food or whatever, etc. It's not really rocket science. If you use it for your "business", you can probably write it off. You just gotta keep track of it all.
@모래시계3652 жыл бұрын
So I can write off my entire lease payment on my EV for $590 x 12 months?
@rockypatacchi Жыл бұрын
If you write off miles driven than you can’t do that.
@jacklyncramton29582 жыл бұрын
Can I write off dental insurance??
@manleteater19702 жыл бұрын
Google says yes
@HisPowerMinistries2 жыл бұрын
1:09
@11BarriosJL3 жыл бұрын
I can write off FICA taxes???
@LYFEAccounting3 жыл бұрын
The employer portion of FICA is a deductible expense for independent contractors
@11BarriosJL3 жыл бұрын
@@LYFEAccounting so we can deduct 7.5%??
@GANGSTAlKINGjamaicanboy2 жыл бұрын
@@LYFEAccounting I drive for DoorDash bro from aug 11 to dec 1 and now they say I should pay 9060 in tax is that possible first time doing DoorDash
@MCTennn2 жыл бұрын
@@GANGSTAlKINGjamaicanboy how much did you make 16.8k ?
@Courtesy_442 жыл бұрын
After watching this video, I recommend lyfe accounting
@ericgrajeda26713 жыл бұрын
37k is tax like $5661yet IRS put a cap on the mileage and you cant write it off. Subsequently you payed $4000 in gas and car maintenance and driving insurance. Total like $20k in operational cost not much left but $17k with rent and other expenses. All year working for $10k at 40 to 60 hours a week not worth it.....
@SexySashaXO2 жыл бұрын
Exactly, that’s why this is my last year dashing! I made $50,000….$9,000 for gas, $4,000car repairs, $8,000 taxes… it’s just not worth putting in ALL those hours… which estimates to be minimum wage once everting is deducted. It SUCKS!
@gregmadison556 Жыл бұрын
@@SexySashaXO If you made $50,000 dashing you should have written off your miles. If you drove 40,000 you could have written off about $24,000. $50,000-$24,000=$26,000. $26,000×.152%= $3952. Then you pay your federal tax on 26,000-$12950 standard deduction.
@gregmadison556 Жыл бұрын
There's no cap on mileage. Ofcourse you have to show some type of proof as to what you report.
@jjsjacinta40462 жыл бұрын
can I deduction my business car insurance & car premium ?
@LYFEAccounting2 жыл бұрын
Yes
@elijahdavis66182 жыл бұрын
@@LYFEAccounting if I use rental car to door dash can I write off the miles or do I have to own the car.
@ToddTinley2 жыл бұрын
@@elijahdavis6618 write off the rental payments.
@thehemiolds455 Жыл бұрын
I had worked as a paper boy for 3-4 years didn't how that worked. The IRS started hunting me, i quit started a new job i didn't get tax returns for a few years.😂😤😡
@ericgrajeda26713 жыл бұрын
I been doing doordash for 7 years yet they dont allow any tax write off.....
@MCTennn2 жыл бұрын
Um doordash isn't the IRS.
@MCTennn2 жыл бұрын
Tf
@selenalorenzi9 ай бұрын
Because you choose the standard deduction.
@1SOUL4JAH3 жыл бұрын
🔥💚🤝✨✅
@LYFEAccounting3 жыл бұрын
💯
@hustleking_swavey42553 жыл бұрын
💰🏃🚗🍔🍕🍟🌮 🔥🔥🔥
@sandratrujillo5911 Жыл бұрын
Get to the meat and potatoes..
@Hella_based_David2 жыл бұрын
IDK man. That haircut is a red flag but I will try to focus on the message
@TrendingwithTrea Жыл бұрын
😂😂😂😂
@evelynlittlefoot78922 жыл бұрын
Topic and content don't match.
@LYFEAccounting2 жыл бұрын
What did you think the video was going to be about?
@crob30942 жыл бұрын
This is a troll job if I have ever seen it. It's Tax write off tips for Gig work I.E. Spark, Doordash, Uber Eats, Grubhub etc. He gave deduction tips on how to tax write off for tax time to save you money on what you may the IRS.