Where can I find detail reliable information about eligible deductions and credits as independent contractor specifically for Spark driver, Uber Eats and DoorDash?
Where can I find tools, resources, tutorials, or any educational content when filing taxes as independent contractor when you are using more than one platform for example Uber Eats and DoorDash. How that works?
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DOORDASH, INSTACART, GRUBHUB, ETC.
If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare, you will need to use online Premium software or any version of the CD/download so that you can prepare a Schedule C for your business expenses.
https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes
https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922
https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax
https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c
https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct
https://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-
calculator-2021-2022-50907/
https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs
If you live in a state with a state income tax, you might need to make estimated payments to your state.
https://turbotax.intuit.com/tax-tools/calculators/self-employed/
Is there a rule of thumb or a practical way to effectively choose between vehicle expenses or standard milage? Thank you!
To choose between taking actual vehicle expenses or the standard mileage deduction for self-employed businesses, you will need to figure out the actual expenses and compare them to the standard mileage amount per mile to see which gives you the best tax outcome. This means you need to have the receipts/totals for everything that you spent on the car for the year. Gas, oil, windshield wipers, repairs, tires, filters, etc. You would then take the total miles you drove for business and divide that by the total miles driven overall. That will give you a percentage of business use for your vehicle. The expense amount that's attributable to your business will be calculated using that percentage (total expenses x business use % = $business car expense amount allowed)
Using the standard mileage deduction is much simpler since you just multiply your business miles by the standard mileage rate for the year (for 2024 it's .67 a mile, which is up 1.5 cents from 2023).
IN GENERAL:
Use this link to see the IRS Publication on that subject:
https://www.irs.gov/businesses/small-businesses-self-employed/manage-taxes-for-your-gig-work
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