Tax Quarter Payment Due Date Q1: January - March July 15, 2020 Q2: April - May July 15, 2020 Q3: June - August September 15, 2020 Q4: September -December January 15, 2021

According to Jeremiah Owyang of Crowd Companies and Vision Critical, there are 80 million sharers in the United States. That’s 27% of the population that should be taking advantage of tax deductions available to entrepreneurs and independent contractors.

A fraction of that 80 million, Uber and Lyft Drivers, have been getting the majority of the attention due to Uber’s rapid growth and controversy but none of the press has helped put more money into the pocket of the drivers.

As the author of The Lateral Freelancer, Saul of Hearts put it, “I had hoped to see more progress on worker protections and benefits by now. It’s leading me to turn toward old-school sharing options".

Many drivers share Saul’s sentiment. Fare cuts are hurting your take home pay, and none of us know what will happen as rideshare startups continue to evolve. But just because times are changing, it doesn’t mean that you have to let your pay continue to shrink! In fact, there are 16 ways in which you can actually make more money for yourself with just a little bit of extra effort on your Uber tax form.

Uber Driver Tax Deduction Stats

As an independent contractor, you’re responsible for your own taxes. This may not be fun but it allows you to take advantage of a number of tax deductions, which means more money in your pocket. Aside from business mileage, Uber drivers may be able to deduct part or all of their mobile data plan, passenger amenities, parking, tolls, or fees they incur while driving for Uber. Additionally, if drivers' business portion of actual vehicle expenses like fuel, repairs, maintenance, and lease/financing payments are greater than the mileage deduction, then drivers can claim the greater amount. Tracking both mileage and actual vehicle expenses during the year is a smart strategy to help maximize drivers' potential deductions.

When deciding on your deduction method, you can only choose between the Standard Mileage deduction method or Actual Expense method noted under “Tax Reference”, not both. In addition, you may also deduct Common Operating Expenses alongside one of those two deduction methods.

Here Are 16 Deductions Uber and Lyft Drivers Can Use Immediately