Staying on top of your taxes is probably a job a lot of TLC drivers could do without. But there are apps that can help, from tracking your mileage and expenses to online help with your tax return.
The deadline for most people to file their 2021 tax return and pay the tax due is Monday April 18, 2022. So you havenât got long to get organized.
Hereâs our round-up of some of the apps that can help you meet this yearâs tax deadline and get sorted for 2022. These should help make sure you maximize your deductions and refunds, and keep more of your hard-earned money.
The following information is correct at the time of writing on March 17, 2022.
Help with taxes
Turbo Tax
Through Turbo Tax you can either file your taxes yourself, get a tax expert to do it for you or just check over what youâve done.
Thereâs a lot of tools to help, and the Turbo Tax service is recommended by Uber for drivers who are looking for extra support. It also offers specialist help for self-employed and independent contractors, which is what rideshare drivers are classed as.
Hereâs a video from The Rideshare Guy on how to file your taxes using Turbo Tax:
https://www.youtube.com/watch?v=8Ss6h8k5kpI
You can start the process for free, and costs for filing start from $119 (filing state taxes costs extra). Uber drivers can also save up to 50% on Turbo Tax self-employed products, depending on your Uber Pro status.
H&R Block
H&R Block is another online tax filing service. You can choose to get your taxes done by a tax professional in an office, via video or by phone. Or if youâd prefer, you can do it on your own with on-demand help.
You can start the self-employed package for free, with the full cost at $109.99.
Mileage and expenses
Keeping track of every mile you drive means you can claim money back. In your return you can deduct $0.56 a mile for 2021, and about $0.58 a mile for 2022.
A few apps that can help are:
Stride Tax
With Stride Tax running in the background during rides, youâll be tracking your mileage plus you can see the money youâll get back from the deduction.
You can take photos of work-related expenses, and the app can find new deductions you might not be aware of. Youâll also get an âIRS-readyâ tax summary at the end of the year.
The app is free to use.
Hurdlr
Hurdlr offers a similar service to Stride Tax â real-time tracking of mileage and expenses and your income and tax deductions.
There is a pro option, but this comes with a lot of features like accounting and sending invoices that TLC drivers probably donât need.
The free option might work well for part-time drivers, otherwise the premium option tracks expenses automatically and comes with unlimited mileage tracking. Premium costs $10 a month, or $100 for the year.
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Money and general support
QuickBooks
QuickBooks is designed to help small businesses. The software works on any mobile device â phone, tablet, Mac or PC.
You can use it for expenses and mile tracking, and to organize your receipts. QuickBooks is also good if youâre after extra money help, such as business banking, saving for goals or predicting the money youâre likely to earn.
You can try it for free, with the basic simple start service priced at $12.50 a month.
SherpaShare
SherpaShare describes itself as the âultimate rideshare driver assistantâ.
As with other apps, it offers mileage and expenses tracking.
But it also has driver tools to spot where the best fares and pickups will be, and to help drivers earn more from their trips. It also has driver to driver chat, where you can talk to and get tips from experienced drivers.
You can download the app for free for a 14-day trial. After that membership is $5.99 a month or $59.99 a year.
At INSHUR weâre here to help drivers, from filing your taxes to saving you money on your insurance. To get quick, easy TLC insurance from your smartphone, visit INSHUR today.
Sources:
https://therideshareguy.com/rideshare-taxes/
https://www.ridester.com/apps-uber-drivers/
https://www.uber.com/us/en/drive/tax-information/faq-and-resources/
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