2019 Tax Deductions For Uber & Lyft Drivers

The collection of taxes forms a part of the primary resource of every state and country. The timely and accurate collection of taxes enables the efficient operation of entities as well as the maintenance of state-owned properties and businesses. Taxes are a mandatory expense for most employed and self-employed Americans. Among the groups of entrepreneurs expected to meet their statutory obligations are the Uber and Lyft drivers. The Uber enterprise began in San Francisco in 2009. The venture began as a way to address the increasing need for a timely, modern and leisurely taxi service. The concept became widely accepted, leading to the launch of similar brands such as Lyft.
Since their entry into the transportation industry, both Lyft and Uber have become renowned for convenient and efficient transportation services. They are both designed as technology-based businesses; allowing users to electronically request transportation from one location to the next. Users are able to download the respective applications and utilize the app to locate and make contact with driver-partners as well as riders. When the request is made, users are able to track the location of the vehicle while it is en-route; offering users the ability to better manage time prior to leaving for the new destination. Among the expenses to be paid by these entrepreneurs are vehicle business expenses and phone expenses.
The purpose of this book is to explore the 2019 tax preparation process for Uber and Lyft drivers. The content will seek to explore what their deductions are and how they can be maximized during the heightened tax season to guarantee the best results for the drivers. It is hoped that content shared with sufficiently enhance the knowledge of the subject.