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Discussion Starter · #1 · (Edited)
Hey everyone!

So I started driving for Uber the weekend of the pens v flyers at heinz field, and my success was met with a good bit of criticism and skepticism. However, I spent last week as my first week attempting this as a full time source of income and the results surprised me. I kept an optimistic view on it and this is what happened...

Weekdays, Mon-Thurs I worked staggered days, 5AM - 9 AM, and then 11PM - 3 AM.
Friday through Sunday, I started between 7-9 PM and drove until around 4-4:30 AM.

All in all, with my offline time for breaks and 2 nights ending early, I ended up doing around 39.5 hours online, and ended up making ~21.5 / hr for this past week. I don't know if it's my scumbag degenerate sleep schedule, or just 6 years of doing delivery in and around the city while living downtown, but it seems to be going pretty well.

With my current credit cards, my cashback and points offers that I had stacked up amounted to around 1000 in free gas gift cards, and general trend is between 15-23 dollars a day in fuel. All this in mind, hopefully people can use this experience as some sort of learning tool, or you can feel free to ask any questions if you have any. I hadn't seen any posts about full timers in Pittsburgh so I figured I'd drop this and see what happened.

Edit: The only pings I ignored throughout the entire week were the ones I received while already on a ride that I had deemed my last of the night, or last before a short break. Furthest ping I received and accepted was ~14 minutes away when received.

TL;DR - 39.5 hours, ~21.5 /hour (tips not included), no pings ignored.
 

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Revenue (before taxes): $849.25 (39.5 hours online x $21.50/hour)
Expenses (without gas credits): $105 - $161 (per week)

Total miles? MPG?
 

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Good to hear. Yea I did some days full time and I broke hours up. Smart staying away from the dead hours it's been stated a few times on these threads 2-7pm are the worst.
I don't completely agree, I generally work 2-3 days/week between 4-7 and make anywhere between $50-75. I don't think that is bad for 3 hours work!
 

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Revenue (before taxes): $849.25 (39.5 hours online x $21.50/hour)
Expenses (without gas credits): $105 - $161 (per week)

Total miles? MPG?
Mike, if you are owing taxes at the end of the year, you should get yourself a tax accountant. Out of 10 drivers I talked to, who had their taxes done already, only 1 of them didn't get a return but only owed $58.

The amount of money I made last year, I would off probably owed around $11k in taxes at a regular job that takes taxes out every paycheck. That is way more than I spent on gas and maintenence for the year. I would say I even made out with at least $2k towards depreciation even if I don't get a tax return. Pennsylvania is a great state to live in for this kind of job.
 

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Mike, if you are owing taxes at the end of the year, you should get yourself a tax accountant. Out of 10 drivers I talked to, who had their taxes done already, only 1 of them didn't get a return but only owed $58.

The amount of money I made last year, I would off probably owed around $11k in taxes at a regular job that takes taxes out every paycheck. That is way more than I spent on gas and maintenence for the year. I would say I even made out with at least $2k towards depreciation even if I don't get a tax return. Pennsylvania is a great state to live in for this kind of job.
I pay quarterly taxes and send my income information to my CPA. I pay almost 50% of my rideshare net revenue towards taxes as I have a full time job as well.

More: https://uberpeople.net/threads/quarterly-taxes-are-46-of-net-earnings-really.81936/
 

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There are some costs I'd definitely factor in when considering full time:

849 miles a week (assuming we generally average $1/mile non surge here) is 44, 148 miles per year on your vehicle. That's just paid mileage, not deadhead miles between pax. I'd look up the average yearly maintenance for the year and make of my car and multiply it by 3, cause you're putting three times as many miles or more as an average driver. There's also the cost of replacing the vehicle if you did this for a few years (down payment less trade-in/salvage amount).

There's also the opportunity cost of the benefits you'd get with a lot of full time jobs:
Insurance (health, vision, dental, life)
Disability protection (long term, short term)
Sick days
Paid vacation
Matching retirement savings
With rideshare, you gotta pay all that outta pocket.

I'd look for a pharmaceutical courier gig or try to get in as a driver for Argo AI, the new autonomous car company springing up in the city instead.
 

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Well, I asked 2 more guys I know at the airport tonight and both said they are getting a return. I am meeting my tax guy tomorrow so I will know for sure.

Mike, from the link to your other thread it seems a lot like you are being taxed like a cab driver, not like an uber driver who uses a personal vehicle. Not a tax guy but 12 full time drivers who used a tax accountant can't be wrong in my opinion.

MasterK, we understand the logistics of it all, trust me. 90% of full time drivers don't want to be full time but assuming I'm right about the tax situation, driving for Uber makes more sense to most than getting a job that pays $10/hr or less.
 

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Driving full time for Uber is a lose lose situation. It's NOT meant to be a full time job at all. The odds, financials and logistics are completely against you. Drive as little as possible and make the most you can in small time frames. Less is more and more is definitely less!
 

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For the same number of hours, I now make less than half of what I made per hour compared to when I first started. I used to drive well over 40 hours a week because it was worth it. The rates and the surge then and now are incomparable. There is a downward trend here and it doesn't benefit you. So your ~$20/hour may sound real good right now, trust us when we say there are no guarantees it will stay that way. Find a good full time job and keep it.
 

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Discussion Starter · #11 · (Edited)
Revenue (before taxes): $849.25 (39.5 hours online x $21.50/hour)
Expenses (without gas credits): $105 - $161 (per week)

Total miles? MPG?
I did just over 950 miles and have been getting around 30 MPG.

There are some costs I'd definitely factor in when considering full time:

849 miles a week (assuming we generally average $1/mile non surge here) is 44, 148 miles per year on your vehicle. That's just paid mileage, not deadhead miles between pax. I'd look up the average yearly maintenance for the year and make of my car and multiply it by 3, cause you're putting three times as many miles or more as an average driver. There's also the cost of replacing the vehicle if you did this for a few years (down payment less trade-in/salvage amount).

There's also the opportunity cost of the benefits you'd get with a lot of full time jobs:
Insurance (health, vision, dental, life)
Disability protection (long term, short term)
Sick days
Paid vacation
Matching retirement savings
With rideshare, you gotta pay all that outta pocket.

I'd look for a pharmaceutical courier gig or try to get in as a driver for Argo AI, the new autonomous car company springing up in the city instead.
I own the car outright, and get a multi-point inspection every 7,000 miles. right now it's just kind of a means to an end type deal where I'm just seeing what I can make out of this, vehicle depreciation doesn't bother me with no car payment and a second car sitting at the ready that I drive maybe 60 miles a week. Just seeing how much I can milk this Jetta for before it's time for a new second car.

On top of that, since I've been old enough to drive for a business, almost every job I have ever had has been delivery, whether commercial truck, or personal vehicle. I just love to drive and love to play the game of making a car run as long as it can.

I do my own oil changes, tire rotations, air filters / other basic maintenance myself and it seems it will help with the costs through an extended period.

Edit: also the free gas cards have been a lifesaver. yet to pull a dollar out of pocket for gas at all, and at the going rate will be another month+ before i have to.
 

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it seems a lot like you are being taxed like a cab driver, not like an uber driver who uses a personal vehicle.
What are the tax rates that others are getting? There is a possibility my CPA is filing incorrectly? This is a new industry after all.

Drive as little as possible and make the most you can in small time frames.
True that, I've driven just 45 minutes at times and made great money per mile. All surge dependent.

a second car sitting at the ready that I drive maybe 60 miles a week
Turo?

Okay maybe not Turo, high risk from what I hear...or is it.
 

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If it wasn't my "old man dream car" I probably would. it qualifies for UberBlack, I've thought about doing that but I don't think theres much of a market here for it.
It would be on UberPremium as we don't have UberBLACK here.

Hmm Cadillac?
 

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Well, I got my tax return done today and I'm getting back $450 from Uber/Lyft.

Mike, I don't know taxes at all but from what I have seen, if you owe taxes from ridesharing then your tax guy is doing something wrong.

Cab drivers have to pay a lot of taxes cause they don't use a personal vehicle. Deducting your miles, cell phone and Uber's take should easily cover it for you.
 

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Thought we could only do the mileage deduction or itemized deductions, not both?
No, the mileage deduction is what the government estimates for gas, maintenance, depreciation, etc... per mile of your vehicle. Cell phone has nothing to do with your vehicle at all. My guy told me I could also deduct stuff like if I bought new floor mats, supplied water or food to riders, or even if you bought new speakers or something like that. Those things are considered improving your business.
 

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No, the mileage deduction is what the government estimates for gas, maintenance, depreciation, etc... per mile of your vehicle. Cell phone has nothing to do with your vehicle at all. My guy told me I could also deduct stuff like if I bought new floor mats, supplied water or food to riders, or even if you bought new speakers or something like that. Those things are considered improving your business.
Yeah the standard mileage deduction applies to gas, oil, repairs, tires, insurance, registration fees, licenses, and depreciation (or lease payments) only. Cell phone & service are deductible, but along with standard mileage, you can only deduct the percentage that you use for business if you also use your car/phone for personal use. The burden is on you to substantiate the percentage you claim with documentation. Also note: the ride to your first passenger & back home from the last are probably considered non-deductible personal commuting miles. Cleaning & car washes may also fall under maintenance in the standard mileage deduction.

Other deductions I'd look into: All Uber/Lyft fees (Their commission, Sales Tax Collected, Tolls Incurred During On-Trip Mileage, Airport Fees, Split Fare Fees, Booking Fees), parking & tolls when on the clock, AAA membership, subscriptions (Sirius XM, Pandora, Spotify, etc), interest on car loan, tax filing costs, business cards/flyers/posters. A lot of tax preparers aren't experts in maximizing small business deductions so YMMV. I'm not a CPA, so this is in no way considered professional tax advice.
 

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Discussion Starter · #20 ·
Yeah the standard mileage deduction applies to gas, oil, repairs, tires, insurance, registration fees, licenses, and depreciation (or lease payments) only. Cell phone & service are deductible, but along with standard mileage, you can only deduct the percentage that you use for business if you also use your car/phone for personal use. The burden is on you to substantiate the percentage you claim with documentation. Also note: the ride to your first passenger & back home from the last are probably considered non-deductible personal commuting miles. Cleaning & car washes may also fall under maintenance in the standard mileage deduction.

Other deductions I'd look into: All Uber/Lyft fees (Their commission, Sales Tax Collected, Tolls Incurred During On-Trip Mileage, Airport Fees, Split Fare Fees, Booking Fees), parking & tolls when on the clock, AAA membership, subscriptions (Sirius XM, Pandora, Spotify, etc), interest on car loan, tax filing costs, business cards/flyers/posters. A lot of tax preparers aren't experts in maximizing small business deductions so YMMV. I'm not a CPA, so this is in no way considered professional tax advice.
I'm meeting with a CPA next week to talk about what can be written off, and the exacts of filing for doing this, after doing that I'm just going to ask him for somewhat of a boiled down cheat sheet of what's what. If he's nice enough to do that, I was going to have him email it to me and just throw it up on here for people to use as a reference.

side note, just had a 33/ hr thursday. super pumped.
 
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