If you pay very little in taxes with all the writeoffs, IT'S BECAUSE YOU MADE VERY LITTLE MONEY.

Am I literally the only miscer who understands this?

ho lee fuk.

You left out car insurance and that you aren’t supposed to use regular car insurance if you’re driving Uber but are supposed to use a much more expensive car insurance since your acting as a common carrier.

Have you ever been self employed before? A 1099 employee writes off 67 cents per mile on his taxes. It's only based on his mileage. If someone who is an Uber driver has high mileage, it means he's earning a lot of money. You must be a little slow.

I've been self employed for over 10 years now LMAO....

the Uber driver in my OP had $300 of revenue from his trip, he gets to DEDUCT $201 from that revenue, so he has to pay taxes on $99 of income.

So he doesn't pay taxes on the other $201, BECAUSE ULTIMATELY THAT IS THE COST OF HIS 6 HOUR DRIVE....

Miscers think he collects $300 from uber, then the IRS pays him an additional $201 for driving uber.... um, no.

If he's driving an EV or something simlar, he's only paying like $10 for this drive. The rest is just based on his time.

I'm just sayin, the UBERcel should stop basking in his absurd wealth when the reality is that he's pulling down less than a 16 year old at IN N OUT.

the IRS estimates that your cost of ownership on the average vehicle in the USA is $0.67 per mile - so his expense on the car alone is $0.67x300miles = $201.

So now he's down to a net of $99...

$99 divided by 6 hours of drive time is $16.50 per hour BEFORE TAX.

Wish I could have done the math quickly in the car and given him the bad news, but I didn't do it until this morning.

IN N OUT pays more.

I've been self employed for over 10 years now LMAO....

the Uber driver in my OP had $300 of revenue from his trip, he gets to DEDUCT $201 from that revenue, so he has to pay taxes on $99 of income.

So he doesn't pay taxes on the other $201, BECAUSE ULTIMATELY THAT IS THE COST OF HIS 6 HOUR DRIVE....

Miscers think he collects $300 from uber, then the IRS pays him an additional $201 for driving uber.... um, no.

looks like OP is changing his tune

The drivers are getting fisted.

Uber often makes more than the driver.

No I'm not lol....

You still haven't explained baldbrah's analysis that printed extra money out of thin air into the uber driver's pocket.

well then clearly this shows how much of a retard you are if you dont notice the difference in what you said in the beginning vs what you said in the last post

There is a LOT of bad information in here holy hell. Real business owners and people that drive for a living know just how fukking stupid Uber/Lyft are.

If you're not in a big city driving during peak hours (thus more money) you're basically working for free.

I’m gonna break down the actual math for you since you’re stupid.

I’m gonna use a 2021 Toyota Corolla for the example since it’s a typical Uber car.

3 hour trip at an average highway speed of 65 mph = 195 miles + return trip = 390 miles. No way I believe he did that many miles on backroads.

The corolla gets 38 mph highway so 10.26 gallons of gas.

Let’s say gas is 3.60 a gallon that’s $36.94

He has to do an oil change every 5000 miles. It costs him roughly $60.. his trip is 1/13 of an oil change so $4.61 in oil cost.

Next is depreciation on his vehicle.. here are two similar corollas in terms of trim level and year with a mileage spread of 55,040




I’m gonna use the carfax value not the selling price to figure out that each mile costs roughly 6 cents in depreciation on his car.

This means the trip cost him $23.40 in depreciation.

Average tires last 45,000 miles and will cost him approximately $250 per tire so he spent
$8.66 in tire life (for all 4 tires)

So all in his trip cost him $73.61

For a net profit of $226.39

/6 = $37.73 per hour.


That’s not that bad tbh

Btw you such at math

And to take it a step further he's spending 18 cents a mile in actual cost but the IRS is letting him write it off at a rate of .65 so they are giving him an extra .47 a mile.. for a bonus deduction of $183.30 on his taxes.. lucky him.

Hes a 1099, and has to pick either mileage or depreciation/all costs associated with the car, cant use both as a write off.

Obviously he didn't find anyone at that destination to drive all the way back home

I wasn’t basing that on a tax writing that’s actual costs.

Do the math for my biggest pay off.
I once made 900 dollars for jacking off on camera for 20 minutes, that was my biggest pay off.

I wasn’t basing that on a tax writing that’s actual costs.

Brah, your math is chit tier. Even TESLA states their cheap model 3 will end up costing $0.63 per mile after 60k miles.

You're wrong. Very incredibly wrong.

Well yeah, write offs and actual costs are 2 different things

PS: Uber is a Wall St business model based a very high supply of immigrants. Ive read that upwards80% of all uber drivers are immigrants...with a very high turnover.

A Tesla battery is 20 grand plus installation.. it’s apples and oranges

This.

Also, new immigrants don't pay taxes on privately owned/operated businesses for the first 5 years, assuming they are legal. Also, illegal 1099 immigrants are never going to pay those taxes. Also, low earning American 1099 employees are notorious for being delinquent on taxes.

The number of 1099 tradies that go a decade or more w/o paying taxes is epidemic. When it finally catches up, they use negotiating services to pay a fraction of what they owe. If you have little to no assets and aren't a w2 employee, you are almost impossible to lock down when it comes to taxes if you don't want to pay them.

I personally know 2 tradies that 1099 and went over 10 years not filing a return. Lived with his old lady in section 8 housing in her name. Not married. Between his 1099 income and cash jobs, they were rolling.

people THINk they are making money, but if they actually looked at the REAL math.. cost of doing buisness, etc. They'd all quit. They don't understand the difference between GROSS profit and NET profit.