Uber and Lyft likely time shut down in California

[Rod]

Tell me again how big government is good for small business 

 

https://www.cnbc.com/amp/2020/08/12/uber-may-shut-down-temporarily-in-california.html

[spin_dry]

So what? Leaves room for another business model to step in. 

[Rod]

Uber gives small businesses access to tax shelters. It’s good for the middle class so I can see why the alt left hates it 

[favoritos]

Isn't that what happened with Fedex?

[Angry ginger]

if you ever saw the tax returns of a uber/lyft driver they are really not a great business for the drivers.  Account for the depreciation and cost of fuel etc and their hourly is pitiful.  Many would be better off delivering pizza for $10 hr and off the book tips.  

 

 

Personally I think they are independent contractors as they decide when they work and what rides to accept.   

 

 

 

 

 

 

[frenchy]

2 minutes ago, Angry ginger said:

if you ever saw the tax returns of a uber/lyft driver they are really not a great business for the drivers.  Account for the depreciation and cost of fuel etc and their hourly is pitiful.  Many would be better off delivering pizza for $10 hr and off the book tips.  

Personally I think they are independent contractors as they decide when they work and what rides to accept.   

only way I can ever see it being worthwhile is when there is surge pricing. I think someone could clean up during snowstorms but how many of them are there a year  

[Rod]

If they’re in a small business it’s hard to tell by returns how much they make. It’s prudent to load up on expenses by years end to keep taxes down 

[Highmark]

I've seen estimates as low as $2.00 hr after costs.   Got to know where and when to work and have a cheap vehicle.   Better to have an old minivan so you take take groups. 

[Angry ginger]

1 hour ago, ACE said:

If they’re in a small business it’s hard to tell by returns how much they make. It’s prudent to load up on expenses by years end to keep taxes down 

There is little to no cash changing hands with uber/lyft and the documentation of what you received is black and white from them as they have to be honest in accounting for income and what goes out to the drivers.  So your writing off .57 cents a mile against the income which assuming your smart enough to buy something used and cheap you can be picking up .25+- a mile back but that is pretty much it.   

On average 1/3 of the "income"  is gone in uber/lyft fees and tolls.  60k miles is going to make you roughly $75k gross.   25k in fees and tolls gets you to 50k.  .30-40 cents a mile in actual gas, interest,  depreciation, maint depending on vehicle and your close to 20k for a net of $30k.   60k miles figure between sitting around waiting for a ride and actual driving your at 25 mph that is 2400+- hours.  12.50 an hour all in,  no thanks.  

 

 

 

 

 

[Rod]

30 minutes ago, Angry ginger said:

There is little to no cash changing hands with uber/lyft and the documentation of what you received is black and white from them as they have to be honest in accounting for income and what goes out to the drivers.  So your writing off .57 cents a mile against the income which assuming your smart enough to buy something used and cheap you can be picking up .25+- a mile back but that is pretty much it.   

On average 1/3 of the "income"  is gone in uber/lyft fees and tolls.  60k miles is going to make you roughly $75k gross.   25k in fees and tolls gets you to 50k.  .30-40 cents a mile in actual gas, interest,  depreciation, maint depending on vehicle and your close to 20k for a net of $30k.   60k miles figure between sitting around waiting for a ride and actual driving your at 25 mph that is 2400+- hours.  12.50 an hour all in,  no thanks.  

 

 

 

 

 

Capital cost allowance isn’t really tangible unless you upgrade equipment. If you continue to use the equipment for 5 years you don’t really know that cost until you can average it out for the duration of its actual life expectancy. In the meantime you have the cash.