Requirements for filing taxes if you are coming from Uber
As each nation has its own laws relating to or applicable to collection of taxes, the modules required may vary in coding, but the principles are the same. Make a note of what you will need.
- Submit the forms and attachments required by the Uber application for your tax return. For example, Form 1040, Program C and SE.
- Hold a detailed record of the income obtained from the provision of the service. Have users bill bills or bills Uber for transactions with the public.
- It is very important that you keep a list and supports of all deductible expenses accumulated during the year, as these will reduce the amount of income you will have to pay in taxes.
- The tax regime that is generally required is that of RIF, therefore you must be registered in the system of your country as a taxpayer or "natural person".
- You can use a specialized accountant which keeps your business tax records for profits and expenses, but you can learn how to make the corresponding tax return yourself.
With all this information, you are ready to go to the tax collection agency or government agency page so that you can declare your taxes if you work with Uber.
Additional tips for completing your tax return
The vast majority of Uber workers or drivers have other jobs, then this work is considered an additional income. In fact, if your income is less than $ 400 per year (again it depends on the country), you are not required to file taxes. Take these other factors into consideration to make the process easier.
- In some cases it will be necessary have physical backup of all bills for expenses or services provided, to be presented in the declaration.
- Le shopping bills generated by the car can be: fuel consumption, tires, car maintenance and cleaning, telephony, additional passenger services.
- The declared activity it can be "Ground passenger transport service or food delivery service prepared through a technological platform." (Depends on the option, you can pay more or less tax)
- Since the business is managed by you, you are known as a 'natural person'. All the your tax returns will be in one payment, because in this case you are the sole owner of your company (transport driver), being an Uber driver.
- Keep in mind that Uber does not provide any incentives to its employees, such as health insurance or vacation, nor does it maintain any tax on their income.
Work under the Skills of the platform Uber as a driver, it's a great option to generate extra income while you have another job. What you need to consider is that the biggest loss will be your car expenses.
However, you always can subtract these expenses from your annual tax return, including those of everyday use, such as fuel, repairs, depreciation, rental costs if that is the case with your vehicle, among others, but the benefits are worth the pain. Now you know how to file taxes if you are an Uber driver, so continue to be successful!
