Because you are considered an independent contractor, no taxes are taken out of your payouts. The bad news, though, is that you can be surprised by a big tax bill if you don’t make estimated tax payments. Talk with a tax advisor, who can help you make estimated tax payments during the year. Let’s explore how to minimize the tax burden that rideshare drivers often face.
The freedom of self-employment is seductive, but the reality may not be as sexy. For those self-employed individuals like rideshare drivers or freelancers earning their income through the gig economy, health insurance can be a dirty word, right along with self-employment taxes.
Whether you create a business, like an LLC or an S-Corp, for your rideshare business, or you are just doing it under your own name, you can reap the benefits of cash back and mileage rewards cards for these expenses and get up to 5% back on all of your purchases. This adds up!
Gridwise is an All-Inclusive Rideshare & Delivery Virtual Assistant app. Gridwise claims you can use the app to ‘find more rides in less time, save thousands a year in taxes, and boost your earnings by 39%.’ We’ll take an in-depth look at the features that help you accomplish all Gridwise promises below.
View the recording of this FREE LIVE WEBINAR with attorney Bryant Greening will cover topics such as Unemployment Insurance for Gig Workers, the Overall Impact of COVID-19 on Rideshare Drivers, Delivery Drivers and Gig Workers, accidents and injuries and use of dash cams.
Independent contractors small business owners can apply for loans to cover payroll and other costs through the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act. Congress passed this legislation to help businesses that are affected by the pandemic. This article explains the requirements you must meet, and how to apply for a loan.
The coronavirus pandemic has made it difficult for rideshare drivers and gig economy workers to earn a living. Stimulus payments, unemployment insurance and several other programs have recently been made available for independent contractors. Here are 5 ways to get financial assistance.
With “shelter in place” orders in place around most of the country, Rideshare has come to a screeching halt. Drivers have been reporting that delivery gigs have been drastically busier and tips have gone up significantly. If driving is your bread and butter, here’s how to adapt to the situation and keep earning.
If you have decided not to drive during the COVID-19 shutdown, money might be hard to come by. Being shut in at home might not be a bad thing though. This is the perfect opportunity to start a new career, build new skills, monetize a skill you already have, or take on some part-time work-from-home jobs. Finding work doesn’t have to be hard as long as you know your talents and trust yourself.