Uber Drivers Forum banner

Uber tax scam!!

1K views 9 replies 4 participants last post by  ShawnsUber 
#1 · (Edited)
Thanks all who replied
 
This post has been deleted
#5 ·
Right, so the Calculated Fare is $10,000. The booking fee and service fee is $2,000. You deduct the $2,000 as service fees on your taxes. Now you only owe taxes on the original $8,000 that was deposited into your account.

This is about as basic as you can get, if this is racking your brain, please, for the love of god, hire a tax professional immediately!
 
#6 ·
Now -- we could definitely argue that Uber classifies us as independent contractors and treats us otherwise -- thereby scamming us on the employer side of SS/Medicare taxes. That could be a valid claim (and was what I was expecting when I opened your thread).
 
#7 · (Edited)
That's what I thought. I haven't worked for credit card companies. I also haven't done my taxes this year. I did do them last year for uber. I know how to do deductions, so I know that I won't be charged for the amount that they are filing to me. My question is... by uber filing this way do they pay their fair share? That's also why I said that I could be wrong. This is not something I'm holding to them, as it is what it is. Just wanted other people's opinions. Damn, by the way everyone's replying I would think y'all work for corporate lol. Just putting something out there. Thanks for providing info lol
I mean, what's the real question? Will Uber actually pay taxes? No, or not much of any, because they had a net operating loss of $3 billion last year.

Will the service and booking fee be booked as taxable income for Uber? Yes it will be.

Even after they start becoming profitable, they can carry forward those net operating loses up to 20 years.
 
#8 ·
Even after they start becoming profitable, they can carry forward those net operating loses up to 20 years.
I would like to add that WE as 1099 employees can carry forward OUR net losses forward as well:), thus adding yet further deductions in the future.

As I've said before, if your actually paying taxes for Uber income your doing something very very wrong.

After finishing my taxes for last year I had a net loss of over $10k. Thank you standard mileage deduction, Spotify, car washes, a few business dinners, cell phone/wifi, a few tolls, and a small iPad I bought to shut up tourists asking to many questions lol.
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top