Tax Tips for Uber Drivers

Ridesharing has become a popular way to make some extra money, but before you commit to driving for a ride-share company like Uber, Lift or Sidecar, you need to know the tax implications of this type of work! Generally, you’re treated as an independent contractor, not as an employee, which means you’ll receive a Form 1099-MISC, not a Form W-2. The income you earn will be subject to self-employment tax and reported on Sch. C of your income return. Since there’ll be no withholdings from Continue reading →

Are Vacations Tax Deductible?

Although technology has revolutionized the way we do business, there are still situations where it’s necessary for a face-to-face meeting with staff, management, or customers. With a little planning for the current vacation season, you can mix some leisure time in with your business travel and still get a make part of that vacation tax deductible. Deductible Travel Expenses – If your trip within the U.S. was primarily for business and, while at your business destination, you extended your stay for a vacation, made a side trip, Continue reading →