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In reply to the discussion: Only 4% of Uber drivers remain on the platform a year later, says report [View all]fescuerescue
(4,448 posts)34. Not if they have their taxes done professionally
They don't have a big tax bill because once they calculate vehicle depreciation and other costs, most uber drivers lose money.
I signed up to be a driver, did 4 trips and realized it was a huge money loser. Drove a total of about 120 miles (including the free miles to pick people up, made about $40. I calculated that it cost me about $60 to earn that $40.
Uber is basically a scheme whereby you convert the equity of car into weekly payments, while giving uber a 20% "cut".
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Only 4% of Uber drivers remain on the platform a year later, says report [View all]
FrodosNewPet
Apr 2017
OP
Question. How do the drivers get paid? A check or direct deposit in an account? Are taxes taken
FSogol
Apr 2017
#15
So for many, when they add the 1099 to their taxes, they are hit with a big unexpected tax bill.
FSogol
Apr 2017
#17
Driving people for a living can be a lot of fun, and it can really be lousy
FrodosNewPet
Apr 2017
#7