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1-16 of 16 Results
  1. Stories
  2. Vehicles
    This is why it costs more to use a newer (under 6-10 years) car for rideshare or delivery. Depreciation is greater percentage of ownership cost these days. Money and millennials: The cost of living in 2022 vs. 1972
  3. Australia
    From the Australian Taxation Office's Small Business Newsroom: Cars and tax From 1 July 2019 the following car threshold amounts apply. Income tax There's an upper limit on the cost you use to work out the depreciation for the business use of your car or station wagon (including four-wheel...
  4. Australia
    From the Australian Taxation Office's Small Business Newsroom: $30,000 instant asset write-off 21 May 2019 Thinking of purchasing assets for your business? The instant asset write-off threshold has been increased to $30,000 and extended to 30 June 2020. If you purchase an asset (new or...
  5. Seattle
    From Uberpoordriver in San Francisco Noobs who run X only should watch before signing up.
  6. Australia
    From the Australian Taxation Office's Small Business Newsroom: $20,000 instant asset write-off 8 June 2018 If you buy an asset by 30 June and it costs less than $20,000, you can write off the business portion in your 2018 tax return. You are eligible to use simplified depreciation rules and...
  7. Atlanta
    Seriously, you are not making money at all, you all just depreciating your car.
  8. Australia
    As part of the 2017-18 Budget announcements of 9 May 2017, the Government has announced that the small business instant asset writeoff is to be extended by one year to 30 June 2018 (rather than the current 30 June 2017). See http://mfm.ministers.treasury.gov.au/media-release/063-2017/
  9. Perth
    Question for you part time accountants out there. Am I correct in thinking that if the tax office treats uber as taxis for the purpose of GST then we should be able to claim vehicle depreciation of 50% each year just like taxis?
  10. Vehicles
    I'm curious as to how most of you account for vehicle depreciation. My method is $1500 for every 10k miles on a Honda Accord. Even if I bought a brand new lx model for $20k, when I hit 100k miles, that's $15k set aside. Sell it for $9k. The $24k covers maintenance {I work on my own car} &...
  11. Taxes
    I'm using quickbooks with my Uber "business." I did my first quarterly and with expenses I was ahead by a couple hundred. Entering my mileage for the second quarter has been different. I notice that if I enter 100 miles which should be $54 (57?) then the deduction in taxes owed only changes...
  12. Melbourne
    JUST ANSWER THE POLLING ??? If u keep weekly records Gross fare is what passenger pays Uber divided by total km driven per week. = gross per km The best way to compare your performance with your fellow drivers This week for me 1109.93 / 860 km=$1.29 per km driven Started researching how...
  13. Stories
    Full disclosure up front: I have been driving for only two weeks. I have heard many say this is great income, but with the price decreases recently in Salt Lake City, I have to disagree. I drive a fairly new car, and if the first two weeks are an indication of the future, I can’t believe people...
  14. New York City
    I went to Ray de Jesus Insurance in Corona Queens on 102-09 37th ave and I didn't have any idea how much money I could save just by driving with my TLC car. He really knows how to work the system of taxes for drivers. Will use him for ever now!
  15. Advice
    I read a lot on here about costs per mile etc. They make a good case against Uber and I'm not debating whether it's profitable or not in general, but YOUR results should not rely on THEIR numbers without understanding them. Cost per mile includes the purchase, use, and upkeep of an average...
1-16 of 16 Results