Income Tax Guide for Rideshare and Contract Delivery Drivers

3rd Millennium Tax’s “Income Tax Guide for Rideshare and Contract Delivery Drivers” is the first guide to offer a comprehensive, nuts and bolts overview of the income tax issues facing Rideshare and contract delivery drivers. There are a number of very important decisions that need to be made at tax time – for example, should you claim Actual Car Expenses, or the Standard Mileage Rate? Making an uninformed decision on this issue on your first tax return that reports Rideshare income can disqualify you from taking certain deductions in later years. There’s a lot of confusion about what expenses can be deducted on a Rideshare return. What makes an expense deductible? Is it always deductible? And, how much can be deducted? There can be different answers to these questions, depending on various fact scenarios. “Income Tax Guide for Rideshare and Contract Delivery Drivers” points you in the right direction. You’ll learn whether an expense is deductible; how much is deductible; and, where to deduct it. Specific expenses are addressed in the guide, including those below. Note that not all of these expenses are deductible.

AAA or Other Motor Club Membership

Accountant, CPA or Other Tax Professional Fees

Accounting Software

Advertising

Bank Charges

Books, Magazines and Other Publications

Business Cards

Car Expenses

Car Insurance

Car Washes and Detailing

Casualty and Theft Losses

Charitable Contributions

Cleaning Materials

Clothing

Credit Card and Debit Card Charges

Dash Cams

Depreciation of Your Rideshare Vehicle

Draw

Driver’s Education Courses

Education Expenses Related to Rideshare

Estimated Tax Payments

Fines for Driving and Parking Offenses

First Aid Kits

Floor Mats

Food and Drink for Passengers

Food and Drink for Yourself

Garage Rent

Gasoline

Health Insurance

Home Office Deduction

Incorporation Fees

IRA Contributions

Interest Expenses

Lease Payments for your Vehicle

Maintenance of and Repairs to Your Vehicle

Memberships

Mileage Trackers

Miscellaneous Expenses

Motor Oil and Oil Changes

Music System

Navigation Apps

Office Supplies

Parking Fees

Personal Property Tax

Phones and Accessories

Retirement Contributions

Rideshare Insurance

Satellite Radio Subscription

Seat Cushions, Seat Covers and Other Items for Comfort

Self-Employment Tax (Social Security and Medicare Taxes)

Seminars and Other Training

Signs for Your Car

Software – GPS and Other

Software – Tax Return Preparation

Standard Mileage Allowance

Startup Costs

Taxes and Licenses

Timers

This Book

Tip Boxes

Tires and Wheels

Tolls

Tools and Car Safety Items

Towels and Other Items for Clean-Up

Vehicle Registration Fees

Vomit Bags

Weapons for Self-Protection

Weather Apps

Rideshare