This deduction can be significant; the standard mileage deduction has sat well over $0.50/mile for years. By logging your miles and taking the deduction, you can seriously lower those extra taxes you’ll owe. Pro Tip: Use a mileage tracking app like Hurdlr. Hurdlr automatically tracks your...
FYI: Using the mileage deduction usually means you can deduct more from your business income than you would if you had deducted all of your individual car expenses. When you use the standard mileage deduction, you also don’t have to keep track of gas and maintenance receipts in addition to...
The main reason Dashers should keep track of their miles is for tax deduction purposes. To clarify this, let’s take a look at the IRS standard mileage allowance. The federal tax organization has established a business mileage rate of 65.5 cents/mile for employees when operating a vehicle for...
Independent contractors using personal vehicles for delivery have the option to claim tax deductions through either the “standard mileage rate” method, which offers a deduction per mile driven, or the “actual expense” method, allowing deductions for specific costs associated with the delivery vehicl...
Lee points out that #DeclineNow factors in the IRS standard deduction of 57.5 cents per mile when setting rates, but not everyone has the same fuel and maintenance costs. Different markets also have different rates and order expectations, and as a result, “being expected to follow the...
9 min read Are Uber Drivers Independent Contractors or Employees? December 22, 2023 5 min read Browse our Resources Whether you're a customer or a driver, we've made it easy to find information about how to make the most of rideshare, delivery, and transportation companies. ...