U.S. Tax Guide for Uber and Lyft Drivers

If you’re an Uber or Lyft driver, you are running a business just like every other business owner out there.

Uber and Lyft classify drivers as self-employed contractors for federal tax purposes, so you are responsible for your own tax obligations.

I created this course to provide drivers an easy to use reference on how to file their taxes. In this guide, you will learn the following:

- What is the difference between an employee and an independent contractor?

- What types of Forms do you need to collect each year (W2, 1099, etc).

- What are the hobby loss rules and do they apply to me?

- What kind of expenses are tax-deductible for the driver?

- How to review the Tax Summary pages from Uber and Lyft.

- How to complete Schedule C and include with your Form 1040.

- Can you set up an LLC or Corporation for your driving business?

- What kind of IRS tax notices might you receive as an Uber or Lyft driver?

- How to prepare amended tax returns if you forgot to report your driver earnings.

If you are an Uber or Lyft driver, you need to make sure to report everything correctly, and it will greatly reduce your chances of receiving any IRS notices.