A few years ago Credit Karma launched a free credit monitoring service to help you get your finances on track. They didn’t have any hidden fees, just good advice and a good service with some advertising designed to help you meet your financial goals. Now, they’re taking that business model and helping consumers file their taxes online – for FREE.
Let’s explore how to minimize the tax burden that rideshare drivers often face. A great way to lower your tax bill is to get every deduction and credit that you are legally entitled to as a small business owner. There are many deductions and credits that drivers are often unaware of.
The debate goes on. What can I write off? Should I itemize and try to get the most from my deductions or should I take the standard mileage deduction that the IRS calculates at $0.58/mile for tax year 2019. Let’s look at the numbers and compare. First, you will need to calculate your vehicle’s depreciation,