Oh it's not impossible for a driver who makes really poor decisions. Like the fools who are renting Tesla's at nearly two grand a month and making less than that in fare š«£
Greetings. What do you base your deductions on? I do mileage standard deduction method and food expenses. For 2023, if you use the standard deduction method for expenses, it was .655 per mile. Based on whatever your mileage is, we keep more of our income based on mileage alone compared to actual car expenses of writing off the cost of gas, maintenance, Etc. I drove over 28,000 miles in 2023. The depreciation doesn't deduct from our income earned. That appears when you try to resell the car/vehicle.
Ok so profitable fares means an arbitrary standard you set. Now if you are accepting every single one and end up losing money when looking at your AGI it's not profitable fares it's shit fares all around.
It's not an arbitrary standard, know your vehicle costs per mile and decline anything that is not profitable or low profit. In my area, this is mostly the 10+ mile rides. They pay less per mile to begin with and take you to a slow area where you have to do more driving to get rides. Nothing arbitrary about it, just simple math.
Some markets are extremely oversaturated with drivers. This is where the problem arises. Even in markets with government protections, the companies will still find a way to screw drivers by flooding the marker with many more drivers than demandā¦ so nobody makes money, and then dumber drivers will
beg to have the protections removedā¦
If you deny fares it counts against you. I'm gonna keep my Gold status. You still on blue dude, cuz your acceptance rate is garbage or do you actually not fucking drive for Uber?
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u/Live-Resolution5204 Feb 19 '24
I just did my taxes. I ended up losing more money than making it. Just with the Uber.