Filing taxes for Uber, Lyft, and others in the on-demand economy

SherpaShare was built to help independent contractors maximize their earnings potential by providing them with more accurate analysis, mileage tracking and a real time community network. If you haven’t already, download our App and start tracking 2016 miles now.  Communicate with your local drivers and get ahead of the game. We’ve partnered with Shared Economy CPA to give you the important tax information you need as an independent contractor. 

Continue reading “Filing taxes for Uber, Lyft, and others in the on-demand economy”

What you absolutely need to know about rideshare taxes

Happy New Year! Hundreds of thousands of drivers like you are starting to think about taxes, expenses, and mileage tracking – and we are definitely here to help this tax season.

Uber Driver Partner Tax Form
Photo credit: Rideshare Dashboard

Our one page guide to get you started

Last year, one of our tax videos was included in our NYTimes feature. It gave a step-by-step guide on how to efficiently file your rideshare taxes.

Exactly a year ago we published a one-page guide to filling taxes as an independent contractor. We’ve pulled it from the archives and here it is:

Continue reading “What you absolutely need to know about rideshare taxes”

The new 2016 IRS mileage rate could cost you hundreds of dollars

Staring on January 1st, the standard mileage rates for the use of cars lowed from the 2015 rate of $0.575 per mile. The new rate of $0.54 per mile means that your total deduction from rideshare or or other independent contractor work could be hundreds of dollars less. Here’s what you need to know about the new rates:

John Uber Driver Mileage Rates.jpg

Why the rate dropped in 2016

According to the announcement from December 17, 2015, the new IRS business mileage rate would become $0.54 per mile starting on January 1, 2016. Continue reading “The new 2016 IRS mileage rate could cost you hundreds of dollars”

Tips on how to save thousands with mileage tracking, and avoid getting in trouble with the IRS

IRS Rideshare Mileage Compliance

Any business mileage submitted to the IRS is likely to be closely scrutinized, and your mileage log is the most important piece of evidence for this. The reason: Mileage can be an enormous deduction for tax filers and the IRS knows how to quickly find record keeping mistakes that could wipe out your entire deduction. Here’s how you can avoid common mistakes when submitting your business mileage.

Continue reading “Tips on how to save thousands with mileage tracking, and avoid getting in trouble with the IRS”