10 Reasons So Many People Use Uber For Extra Income

tax breaks

6) Corporate Tax Breaks

Driving for Uber means you are your own independent contractor and you need to file your taxes as such. It may take a bit of time to figure out exactly how paying your taxes as an independent contractor varies, as opposed to the W-2 you receive every year from an employer, but with a tax advisor this is pretty easy.

One of the biggest changes you will need to make is ensuring you are tracking your write-offs such as gas, vehicle maintenance, etc. Any expense you have with your vehicle, while used for the purpose of driving for Uber, is eligible for a tax write-off.

In addition to tax write-offs, you as a corporation will have tax advantages and tax breaks that are not available to someone who works for a company. For many independent drivers this is a nice boost to owning their own company.