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Since the tax season is fast approaching for Uber drivers in the US, we know what tax time means. Tax time means you fall into one of two buckets: (1) Getting a refund check or (2) paying the U.S government money owed. The way you file your taxes, how you have managed your expenses and your income for the preceding year largely govern which bucket you fall into.

When you are an Uber driver, you are the boss (an independent contractor of Uber). Uber classifies its drivers as independent contractors [or self employed individuals]”. This is why you receive a 1099K and/or 1099 Misc and not a W2 when you work with Uber.

FICA Taxes “Are the Social Security and Medicare taxes sole proprietors pay. When you’re an independent contractor, you have to pay all your Social Security and Medicare taxes out of your own pocket … a flat 15.3 percent tax on your first $118,500 in net self-employment income.

Please continue reading to learn more about these listed details on our blog and tips on uber taxes series perspectives from industry expert. Uber Tax Benefits

1. Tax Deductions – Standard or Itemized?

2. What Are the Deductions?

3. Documentation You Should Keep to Support Your Itemized Deductions:

4. About Your 1099k & About Your 1099 Misc:

5. Preparing for Next Year’s Taxes:

Uber Tax Benefits Visit this link for more information – www,uberkit.net/blog/uber-taxes-series-all-about-your-uber-taxes/
 

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Surely taxes are not bad, but aren't there way too many taxes? So many sheets to complete, it gets so annoying at some point, especially when you have to do more important things. It was a big problem for me, because I am living alone and there is no one else who could complete them. A friend of mine recommended me Taxes Done For You - Easy & Affordable, As They Should Be, he was using this service for a long time, and now I know why. The experts from taxfyle are doing all the work for me, and I don't spend a whole day dealing with them.
 

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I have to agree with you xLaurenHx. Taxes are not a bad thing at all. They are ment to be paid, so we would actually get some benefits out of that, ain't that true? I guess that is exactly how it works actually. However, there is a pretty .... unpleasant detail about these taxes nowadays. Most of the governments have been really abusing this subject. I mean, we have got an incredible amount of taxes, which are not that necessary actually. I run a tiny building materials shop. And I am just stunned by the amount of taxes we have to pay. The owner asked me to fill in the 1099-Form. Honestly, I could not understand what should I write in there, untill I found an example of the form on https://pdfliner.com/form_1099_misc. And there are toooons of forms like that.
 
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