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New Member
posted Jun 5, 2019 5:07:47 PM

As an Uber Driver in the state of Virginia, how percentage should I set aside for tax season?

I want to take out the right amount of taxes each pay period, so that I do not have to owe money in taxes. I will claim as a sole proprietor.

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1 Best answer
Level 7
Jun 5, 2019 5:07:48 PM

Since your self employment taxes will run you a little under 15%, you will probably cover yourself by setting aside at least 25% of your earnings.

Self employment taxes are the equivalent of Social Security and Medicare withholding on a W-2.

1 Replies
Level 7
Jun 5, 2019 5:07:48 PM

Since your self employment taxes will run you a little under 15%, you will probably cover yourself by setting aside at least 25% of your earnings.

Self employment taxes are the equivalent of Social Security and Medicare withholding on a W-2.