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July 17, 2017

Uber and Lyft drivers can write off a number of expenses to save money come tax time. Here are 3 things to keep track of every day to save you money. Did you know Vendigo counts as a tax writeoff for Uber and Lyft drivers? Here are three tips below.

 

1. Track your miles outside of Uber and Lyft


Uber only records the miles you drive with a passenger in the car. That's the number you see on your " Uber Tax Summary." Get extra miles written off by tracking it with one of the many apps available.

2. Deduct expenses


There are many driver related expenses like the ones below:

  • Health insurance: $2,500
  • Cell phone: $1,200
  • Car washes: $300
  • Vendigo box with passenger goodies: $39 - $129

3. Don't pay taxes on Uber's commission


You don't have to pay taxes on Uber or Lyft's commission, make sure to deduct that from your 1099.


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