Most Uber and Lyft drivers, as well as other gig workers, approach tax filing by simply waking up one day, gathering receipts scattered around, or pulling out documents they’ve stashed away somewhere. Bam! They’re ready to file their tax return.
The next step? Price hunting. They start Googling or calling tax preparation services, looking for someone to prepare their return for $100. Alternatively, some walk into tax service chains like Jackson Hewitt, H&R Block armed with their loosely gathered receipts.
Others opt for the easier, DIY approach by using software like Intuit TurboTax, which typically costs $100 to $300.
However, these approaches are often cavalier and short-sighted. This “lazy man” method can cost you valuable tax deductions and credits. That’s why you’re entitled to—provided you maintain good records.
Rideshare workers, including Uber and Lyft drivers, must understand the full range of tax benefits and advantages available to them. By keeping accurate records or partnering with a tax professional, such as a tax accountant, you can unlock significant tax savings, deductions, and credits.
At LA PREMIER TAX, we are committed to helping you get the maximum tax credits. Also deductions by working with you throughout the year. As gig economy experts and Uber & Lyft income tax specialists, we proudly serve the communities of Encino, Sherman Oaks, Tarzana, Woodland Hills, Van Nuys, Glendale, Burbank, Pasadena, and the greater Los Angeles area. We will provide year-round support for bookkeeping and record-keeping, so when tax season arrives, you’re fully prepared to file.
