No one wants to pay for inspections if they don’t have to, especially those who drive for a living with companies like Uber and Lyft, so we’ve got a simple post that can help drivers find free or low-cost vehicle inspection locations near them to get the job done and maintain compliance.
According to a study commissioned by Upwork in conjuction with the Freelancers Union, in 2017 there are over 57,000,000 freelancers, or “independent workers” in the United States. This number totals around 36% of the working population in America!
The number of freelancers and self-employed individuals is expected to grow to a whopping 50% in just a few short years. Thanks to the new Gig Economy, millions of people that otherwise wouldn’t have gone into business for themselves are suddenly driving for Uber, Lyft, Doordash and more.
It’s an awesome thing to see, but not everyone is prepared for the shift from W2 to 1099 worker and the taxes that come with it!
At Everlance we want to help new freelancers understand the difference and some of the requirements for paying taxes as a freelancer. As always, this post does not constitute tax advice and we urge anyone with specific tax questions to consult a tax professional. Continue Reading
Whether you’re a Dasher, a Postmate, or any other type of courier or shopper (Instacart, Shipt, Caviar, UberEATS, etc.), you’re an independent contractor. As an independent contractor, paying your taxes can be harder than as an employee – for example, you need make tax payments every quarter. But there’s also a key benefit: as an independent worker, there are lots business deductions you’re entitled to take. Taking those deductions reduces your taxes and increases how much money you get keep to keep.
To maximize your deductions, and therefore maximize the money you keep, you need to understand the types of deductions you can take.
We’ve developed a list of the most common deductions that couriers and other on-demand delivery workers can take.
Lyft 1099 Forms: Starting in the first week of February Lyft drivers will start getting their 1099 forms for their previous year earnings in the mail and that can only mean one thing…
It’s tax time!
As mentioned above, if you drive for Lyft you’ll be getting your 1099 from them soon, but which one will you get?
Some Lyft drivers will be getting the 1099-MISC if they generated under $20,000 in earnings for the previous year. And those drivers that generated over $20,000 in income + at least 200 trips will be getting the 1099-K.
Not too complicated. However, let’s dive in a little deeper to understand how Lyft drivers are classified for tax purposes and what those different 1099 forms really mean.
As always, this post is not to be considered tax advice. For specific advice regarding your tax return you should speak directly with a tax professional.
It’s that time of year again people! Uber 1099 time! That’s right, all of you Uber drivers will be getting 1 of 2 forms in the mail, depending on the revenue you generated.
Some Uber drivers will be getting the 1099-MISC if they generated under $20,000 in income for the previous year. Those who generated over $20,000 in income + at least 200 trips will be getting the 1099-K.
Let’s talk more about these 1099 forms and how Uber taxes work, but before we do we need to make it clear that this post is not to be construed as tax advice. There is no substitute for speaking with a certified tax specialist and you should always consult a pro if you have specific tax questions.