[clichealias]

what is the most lucrative write off? What do you guys keep track of- I was thinking mileage depreciation most likely- does uber keep track of my miles all year?

Also- I brought a brand new car- it is not strictly for the use of uber though- can any percentage of this purchase be tax deductible?

 

[UberTaxPro]

what is the most lucrative write off? What do you guys keep track of- I was thinking mileage depreciation most likely- does uber keep track of my miles all year?

Also- I brought a brand new car- it is not strictly for the use of uber though- can any percentage of this purchase be tax deductible?

Mileage is the most lucrative write off. You have to choose between two methods. Actual expense method or Mileage method. For 99% of Uber drivers mileage is the best way to go. If you go the actual expense method then a % of your car purchase would be deductible however this is probably not the way you should go. Read up on the following : Actual Expense vs Mileage method and section 179 deduction.
Be aware that if you elect to use actual expense method you can't ever use the mileage method for the same vehicle. The best advice I can give you at this point is to keep a mileage log that meets the IRS's requirements. Lot's of info on here about the above topics! You came to the right place....good luck.