4 ms·

not willing to register to read the article. wishing there was micropayment - send a buck - get the content without registering. Did they get into expenses for

not willing to register to read the article. wishing there was micropayment - send a buck - get the content without registering. Did they get into expenses for the vehicle with the calculation? Taxes? I had some fun doing lyft for a month here and there several times - and they kept cutting the rates they paid drivers. The last few weeks I did it I realized the after expenses and taxes was about $6 / hour. Every uber/lyft driver I've ridden with has told me they have no info about tax time and what's to be expected - and none were saving for it. It's a disaster every year I bet. I've asked around a bit for banking option that would let you set rules for percentages - like each time money is deposited from place X take 28% and put into other savings account Y - but not found any.. I think it's needed. I saw a submarine article recently that said a thing called "lilly" debit card type thing made for freelancers(?) - says it can move money based on percentages - but the signup page the article referenced had no info about that feature so I let it linger in a tab and forgot about it. Whatever the money is with uber/lyft - so many don't understand all the expenses - I try to say it's like getting good money for driving neighbors around - but you don't see that you are basically taking a knife to your brakes and other components, handing over pieces of your car to the riders in exchange for $12 or whatever - and the more you drive the more you are in danger with other cars / etc.. and don't see the actual cost for a long time so you think it's better than what it is. love to know how many people they have had as drivers and how many do it more than 18 months.

fzzzy 5y ago
The "Simple" app used to have a function for automatically saving a percentage of every deposit, but Simple as a company is gone now, destroyed for no good reason by their acquirer.
- noman-land 5y ago
  For the record, OneFinance is still pretty green but they have some interesting features that fill some of the gaps left by Simple's demise.
prepend 5y ago
I think it depends on the car, the mileage deduction rate is 57.5 cents per mile. If I have a Prius, my depreciation isn’t nearly that high so I may not be bad off come tax time. I can deduct not only the logged miles, but miles in between jobs and to/from work sites. If I’m driving 30 miles an hour then I’m deducting $17/hour from auto expenses that will greatly reduce my taxable revenue. Of course, there are expenses to be paid on the vehicle for fuel, insurance and depreciation. But there are vehicles where this is much less than the IRS deduction that is just flat for all vehicles.

fzzzy 5y ago

The "Simple" app used to have a function for automatically saving a percentage of every deposit, but Simple as a company is gone now, destroyed for no good reason by their acquirer.

noman-land 5y ago
For the record, OneFinance is still pretty green but they have some interesting features that fill some of the gaps left by Simple's demise.

prepend 5y ago

I think it depends on the car, the mileage deduction rate is 57.5 cents per mile. If I have a Prius, my depreciation isn’t nearly that high so I may not be bad off come tax time. I can deduct not only the logged miles, but miles in between jobs and to/from work sites. If I’m driving 30 miles an hour then I’m deducting $17/hour from auto expenses that will greatly reduce my taxable revenue. Of course, there are expenses to be paid on the vehicle for fuel, insurance and depreciation. But there are vehicles where this is much less than the IRS deduction that is just flat for all vehicles.