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I am posting my 1 week of UberX Driving Experience and the cost benefit of driving UBER- You make your decision

1.Uber Gross Income according to payout Statement (B)(After subtracting 20% commission for
Uber)=$1.81/mile
2. Taxes in CA (LA County) =10%
3. Uber Net Income after taxes (subtract 10% state tax+subtract 12% Federal tax )=$1.81/mile -$0.40=$1.41/mile
4. IRS rate/Mile deduction as Independent Contractor (B) =$0.54/mile
5. Actual money pocketed by UBER driver based on real collected data=$1.41-$0.54 =$.87/mile

Based on the available data , the attached snapshot below provides how much a individual would earn if they drive 1hr/2hr/3hr/4hr/5hr/6hr/7hr/8hr(Fulltime) every day of the week.

Conclusion: $0.87/mile translate to about $0.20/minute driving in LA traffic = $94.60/day net earning based on 8 hours of driving =$11.83/hour

Note: Chances are your return trip may not have any riders back to your home base ,so you are basically making half of 11.83/hours =$5.92/hour
Note: LA County passed a ordinance on minimum wage of $15.00/hour recently.
 

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