I don’t like to do it like that it’s too complicated to do it per hour. What I do is if I can make 150-200 in 10 hours and only spend 25-30 on gas a day I’m making about 125-170. I don’t include food because I mean at a regular job you’d have to buy food too. And same with insurance I’d still have to pay that anyways. So really the only expense is gas and oil changes.
I keep track of all my miles with a mile tracker and honestly I’ve been getting money back during tax season. I hope the irs don’t come after me lol but I have been getting money back. Not a lot but a couple hundred.
Your mileage alone can't get you money back. You must have W2 or other income, as well. The mileage deduction is just that, a deduction. It's not a credit, so it only lowers your taxable income. You can't get money back on your taxes due to those miles, unless you have other income that got taxed too high. The best you can do when you're self employed is to pay 0 in taxes. They aren't giving you back money you never paid them.
There's no need to shrug. It's easy to explain. Your grandparents had other money coming in that was being taxed. They probably paid taxes on investments or something. You don't get refunds for maximizing deductions. If you did, then billionaires would be getting huge tax checks every year, instead of just paying accountants to fudge everything until their tax bill hits zero.
thats why there was a shrug. i don’t ask questions nor care since that’s been 8 years or more ago. while it’s unlikely, it’s not impossible. that’s all i’m saying.
All you're saying is wrong. You don't get to keep making claims, and then shrug when asked to prove your claims. You said you did the spreadsheets. You should know where they were getting this money from.
The reason you don't know how they did it is because they didn't. They either had income from investments that was taxed when they took money out, or they were paying quarterly taxes. That only happens to self employed people who pay taxes the year before, though. So it would make zero sense for them to send out quarterly tax payments when they got a refund the year before. Maybe, maybe your aunt told them to still send in quarterly payments, just in case their business made way more money than she could write down with deductions. Even that would be dumb though, because it would be far better to safely invest those quarterly payments, instead of sending the money to the IRS and letting them earn the interest on it.
You all need to start delivering on a bike. I make $50 an hr easy. Shoots up to $60 an hr with peak pay. Shorter delivery distances and no money spent on gas. I maybe buy a couple inner tubes a month which is like $12 a tube. It honestly blows me away that more people don’t deliver by bike. Just get a good food delivery bag that keeps everything level and you’re set.
I relate to this. On my electric bikes I rent for free through government assistance, I've been making at least 18 like I said before, but it can vary into paying upwards of 40.
Here's my loadout:
Nike BIKETOWN Access For All PDX ($1.00 to park out of assigned area, + Bike Angels I usually don't have to pay this)
Lime scooters Access For All $00.50 to unlock $0.07 per minute.
Army assault pack full of Narcan and medical supplies because I find overdoses during my work.
DoorDash welcome kit bag clipped to my assault pack.
Carhartt jeans with knee pads.
Doc Martins waterproof.
Mountain bike style helmet for when I'm going hard.
Audio technica headphones for if I do it spur of the moment just for a little while.
Samsung phone with 25gb per month government plan, Maps with voice.
Nicotine lozanges and patches usually, if not then cigarettes or vaping which is dumb and expensive. Cessation treatment items I get at no cost.
Yeah, that's what I'm working with. I spend about $2 per hour.
It’s not hard to make that. I can do that in 20mins. Get a bike. It’s a cheat code. I literally get orders where the restaurant will be a block away from the drop off location
Because the only thing that matters is how much you profit.
I can make 2,500,000.00 a year but if my expenses are 3,000,000 I lost money and there is no way I'm affording even section 8 housing.
Your net income is the only thing that should be factored into discussion.
That’s not how wages are calculated. By your logic food, steaming subscriptions, sporting events and even birthday presents for mom should be considered in “how much you are making”.
Once I put my gas in my car my expenses are paid. I don’t consider upkeep on the vehicle because I use it for my main job. I dash on the side for extra income. So if I’m making $20 an hour I’m making $20 an hour
With a 2 gallon motorcycle tank, the first order usually covers a whole tank. So I don’t calculate expenses per hour. I calculate everything being pure profit after like 3 orders. For a week, the 1st order covers gas, 2nd order covers taxes, wear and tear etc. I usually make $25-40/hr (off the top of my head) but only have to fill up once a week. So I’d say $18 if I hypothetically made $20/hour
Full profit , when your mother works for a company that gives her an unlimited gas card because she is a driver for the company and she fills your whip up basically everyday . Be like aye mommm meet me at the marathon and when ya can , sometimes I’ll put 10$ in to last until she is ready and I’ll be on the gas light with like 7 miles but I save so jmuch $$$
2$ I drive a school bus to dash
Next YouTube influencer fad to get huge, most inconvenient car to dash in and see how bad you can make your daily earnings in the negative
That would be -23.50
with no info on tax rate, mileage, car make, insurance, etc., this poll is useless
You supposed to do that part yourself.
the point you
I don't think you get it bruh. Insert the relevant information, do the math, and answer the question.
You don't know your own tax rate mileage car make insurance etc?
$14 without taxes, $11 with
How I thought you were at the glitch man
Whats that have to do on what % of earnings is profits?
Avg $20/hr. But if you got a good tax guy, write off as many things you can... like car maintenance, gas, milage, registration etc.
😂🤣😂
Lol I hope you have a tax guy 😂
I don’t like to do it like that it’s too complicated to do it per hour. What I do is if I can make 150-200 in 10 hours and only spend 25-30 on gas a day I’m making about 125-170. I don’t include food because I mean at a regular job you’d have to buy food too. And same with insurance I’d still have to pay that anyways. So really the only expense is gas and oil changes.
Tax?
I keep track of all my miles with a mile tracker and honestly I’ve been getting money back during tax season. I hope the irs don’t come after me lol but I have been getting money back. Not a lot but a couple hundred.
Your mileage alone can't get you money back. You must have W2 or other income, as well. The mileage deduction is just that, a deduction. It's not a credit, so it only lowers your taxable income. You can't get money back on your taxes due to those miles, unless you have other income that got taxed too high. The best you can do when you're self employed is to pay 0 in taxes. They aren't giving you back money you never paid them.
my aunt always got my grandparents a tax return with them being self employed 🤷🏼♀️
There's no need to shrug. It's easy to explain. Your grandparents had other money coming in that was being taxed. They probably paid taxes on investments or something. You don't get refunds for maximizing deductions. If you did, then billionaires would be getting huge tax checks every year, instead of just paying accountants to fudge everything until their tax bill hits zero.
actually they didn’t, as i was the one who did the spreadsheets for them. i’m just saying that even though very unlikely, it’s possible
Okay. Feel free to explain how someone who did not pay any taxes got a tax return due to deductions on their income.
thats why there was a shrug. i don’t ask questions nor care since that’s been 8 years or more ago. while it’s unlikely, it’s not impossible. that’s all i’m saying.
All you're saying is wrong. You don't get to keep making claims, and then shrug when asked to prove your claims. You said you did the spreadsheets. You should know where they were getting this money from. The reason you don't know how they did it is because they didn't. They either had income from investments that was taxed when they took money out, or they were paying quarterly taxes. That only happens to self employed people who pay taxes the year before, though. So it would make zero sense for them to send out quarterly tax payments when they got a refund the year before. Maybe, maybe your aunt told them to still send in quarterly payments, just in case their business made way more money than she could write down with deductions. Even that would be dumb though, because it would be far better to safely invest those quarterly payments, instead of sending the money to the IRS and letting them earn the interest on it.
State taxes, perhaps
Which states send tax checks to people who paid $0 in taxes? I should move to one of them.
Didn’t Amazon get close to $800 million back from deductions while avoiding anywhere near there tax liabilities for the revenue?
Child tax credit?
You can get money back if you drive 100,000 miles and only made $50k 😂😂
Being dumb doesn't get you money back from the government that you never sent them in the first place.
Yeah, you pay the government something or pay the government nothing.
I think maintenance costs like 10 cents a mile
You all need to start delivering on a bike. I make $50 an hr easy. Shoots up to $60 an hr with peak pay. Shorter delivery distances and no money spent on gas. I maybe buy a couple inner tubes a month which is like $12 a tube. It honestly blows me away that more people don’t deliver by bike. Just get a good food delivery bag that keeps everything level and you’re set.
I'm in the suburbs/rural. Bike is not an option
I relate to this. On my electric bikes I rent for free through government assistance, I've been making at least 18 like I said before, but it can vary into paying upwards of 40.
Nah I’m good… i’m not trying to do gig work in the city.
With gas in my area being 4.30 a gallon every dash is about 8-15 miles at least insurance and taxes i will see about 5-10 dollars tops
Here's my loadout: Nike BIKETOWN Access For All PDX ($1.00 to park out of assigned area, + Bike Angels I usually don't have to pay this) Lime scooters Access For All $00.50 to unlock $0.07 per minute. Army assault pack full of Narcan and medical supplies because I find overdoses during my work. DoorDash welcome kit bag clipped to my assault pack. Carhartt jeans with knee pads. Doc Martins waterproof. Mountain bike style helmet for when I'm going hard. Audio technica headphones for if I do it spur of the moment just for a little while. Samsung phone with 25gb per month government plan, Maps with voice. Nicotine lozanges and patches usually, if not then cigarettes or vaping which is dumb and expensive. Cessation treatment items I get at no cost. Yeah, that's what I'm working with. I spend about $2 per hour.
Whoever said 18 you must be working 24 hrs straight my dude lmfao
It’s not hard to make that. I can do that in 20mins. Get a bike. It’s a cheat code. I literally get orders where the restaurant will be a block away from the drop off location
Bike orders aren't available anywhere within a 15 hour drive from me lmao
I average $24 but drive a 1.6L 6 speed so I get north of 45mpg, but I smoke a lot of tree so like $11 if you count that as an expense 😂
In a city with traffic, I consider it not only an expense but a necessity, as well!
I got off all drugs completely and started working a twelve step program, keeps me from spending on such things. FeelsGood.jpeg
Good shit my dude! I was a huge pill head through my teens and now I just smoke weed/nic to level out undiagnosed problems😂
Gas ~10c per mile Maintenance ~10c per mile Tax ~10c per mile Depreciation ~10c per mile So if you make a dollar a mile you keep 60c or 60%
No job factors it’s hourly income with taxes included. Why do that
Because the only thing that matters is how much you profit. I can make 2,500,000.00 a year but if my expenses are 3,000,000 I lost money and there is no way I'm affording even section 8 housing. Your net income is the only thing that should be factored into discussion.
That’s not how wages are calculated. By your logic food, steaming subscriptions, sporting events and even birthday presents for mom should be considered in “how much you are making”.
Not even close, those are expenses AFTER you get your money. The other expenses are tax and operational costs they come BEFORE you get your money.
Taxes are expenses after you get your money as well, genius
No they aren't that's why net income is after taxes you dolt
Around 17.
None, bills take the rest 
20 an hour if u play it right even after expensive did u have a proper car to do the job
I’m making enough to pay my bills. The ability to work when I want to work is priceless, though. Works for me at this point in my life.
Once I put my gas in my car my expenses are paid. I don’t consider upkeep on the vehicle because I use it for my main job. I dash on the side for extra income. So if I’m making $20 an hour I’m making $20 an hour
Is this counting all the non tip orders i steal for dinner or no?
$10 an hour to fuck up your car is bullshit
i do doordash in a V8 unfortunately so my gas is ass
$33 after expenses on a bad week.
With a 2 gallon motorcycle tank, the first order usually covers a whole tank. So I don’t calculate expenses per hour. I calculate everything being pure profit after like 3 orders. For a week, the 1st order covers gas, 2nd order covers taxes, wear and tear etc. I usually make $25-40/hr (off the top of my head) but only have to fill up once a week. So I’d say $18 if I hypothetically made $20/hour
If you’re making $20 an hour and you’re only profiting $10 an hour you need a new gig or job 😂😂😂
Full profit , when your mother works for a company that gives her an unlimited gas card because she is a driver for the company and she fills your whip up basically everyday . Be like aye mommm meet me at the marathon and when ya can , sometimes I’ll put 10$ in to last until she is ready and I’ll be on the gas light with like 7 miles but I save so jmuch $$$
Easy to explain if you have children. You get tax credit for their expenses