If you’re a rideshare driver for services like Uber or Lyft, you’re considered an independent contractor. As such, you’re responsible for paying your taxes since they aren’t withheld from you. However, you can save money on your taxes by maximizing your tax deductions with these ride-sharing tax-write offs!
Fees related to an organization or service used to find or conduct business are tax deductible.
If you use your phone for work, the purchase and monthly bill are tax deductible.
Accessories for your work phone, such as USB charging cables, are tax deductible.
Providing snacks and refreshments for your passengers is tax deductible.
Monthly or annual subscription fees for computer software or apps related to your job or business are tax deductible.
Standard business equipment and tools used for work are tax deductible.
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You'll have to decide whether you want to take the standard mileage deduction or the actual car expense deduction. Regardless, track the car expenses below to help maximize your deductions!
Gas for your business vehicle is tax deductible.
License and registration fees required to drive your business vehicle are tax deductible.
Business-related parking and toll fees are both tax-deductible expenses. However, parking fees paid to park at your workplace are not deductible.
Roadside assistance expenses are tax deductible. If you have a roadside assistance plan, it’s tax-deductible if your insurance plan doesn’t include it.
The insurance cost for your business vehicle is tax deductible.
Repairs and costs to maintain your business vehicle are tax deductible.