Looking for some help with your personal tax return?
Being an uber taxi in this modern-day and age is pretty awesome. Not only do you get to be your own boss, but the cheap tax returns are quite impressive. More so, you get to dictate the preferred time you would like to be on the job and decree when to head home.
Want to know more, read on.
Once you become an uber driver, you can get tax deductions from all the licensing and commission fees paid to Uber. A certain percentage of what you spent is going to get tax relief.
Secondly, the costs used on attaining the uber driver status like medical fees, police check-ups, application fees and everything in-between, also get a tax deduction from the government. But this is only considered if the costs were incurred while getting the uber driver license, nothing else.
Thirdly, if you are the kind of driver who offers your clients a bottle of water, mint, or any other snack, you may also be compensated through a tax deduction. But this will only work as long as you have all the receipts on record.
The forth thing uber drivers enjoy as a tax benefit is getting the tax relief on the cash they use for fuel of the car while on official duty. You must know that personal use is not deducted.
The cash paid on tolls and parking while picking up or dropping off clients is tax-deductible. This also includes waiting times.
The amount you use to register the car’s license is also tax-deductible. And in this same class, insurance covers used on the car are also listed as tax benefits for uber drivers.
Uber drivers depend on their phones for daily operations, and inevitably, the phone bills will be on the higher end. Well, this, too, is tax-deductible for an uber driver easing the burden to have to foot the bill.
Any safety equipment used in the taxi like hi-vis vests and first aid boxes is catered to in the tax benefits.
Whenever you take the car for servicing, cleaning or a repairing session, there is a tax benefit tied to this. The only catch is that you must have every session and its costs on record.
If you have a tax agent helping you sort out your taxes, the payment used to pay for the service is also included as a tax-deductible.
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