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'If drivers are fully able to capitalize on these losses for tax purposes, 73.5% of an estimated U.S. market $4.8B in annual ride-hailing driver profit is untax
by jdpigeon 9y ago
'If drivers are fully able to capitalize on these losses for tax purposes, 73.5% of an estimated U.S. market $4.8B in annual ride-hailing driver profit is untaxed," they add.'
So they might be making money, but only by avoiding taxes. Great. /s
- greenshackle3 9y agoDeducting business expenses from revenue is not 'avoiding taxes', it's what all businesses do. Businesses are taxed on net profit, not on revenue. This is a feature, not a bug. They sound confused about profit vs revenue, that $4.8B figure is not really 'profit' if it doesn't account for operating costs and depreciation of the car. Very few businesses would be profitable if they were taxed on revenue rather than net profit.