As an Ride-share driver, you likely have a wide range of eligible business expenses. In addition to the eligible gas receipts you’ve been accumulating, there may be other expenses that could lower the amount of income you pay tax on.
As an Uber Partner, TurboTax Self-Employed can assist you with the amounts you should record as self-employed income and your total fees provided by Uber on your tax summary found in your partner profile.
Below are some common fees for Uber Partners which should be recorded on your income tax return in TurboTax Self-Employed.
On your T2125, Statement of Business Activities – the service fees paid to Uber are considered to fall into the category of Management/Administration Fees.
As an Uber Partner, you may incur toll charges when offering rides to passengers. You can likely enter this reimbursement as an expense. Any amounts that are charged to riders and remitted to you in connection with these tolls should be considered income.
Do you “go the extra mile” as an Uber Partner, providing supplies, like water or candy, to your customers? Some supplies may be tax-deductible and eligible supplies can be included in the Supplies section of the T2125.
Don’t forget about other eligible business supplies for yourself.
Cell Phone Expenses
Your cell phone is a component of your business. You may be able to claim a portion or the entire bill including the cost of the phone itself and monthly charges used for business.
This content is intended solely for information purposes and no Uber Partner or other third party may rely upon it as tax or legal advice or use it for any other purpose. As such, Intuit assumes no responsibility whatsoever to Uber Partners or other third parties as a result of the use of information contained herein. Readers are encouraged to consult with professional advisors for advice.
Dina is one of the editors of the TurboTax blog and heads the social media department here at TurboTax Canada. So, if you’re ever on Facebook, Instagram, Twitter or Snapchat make sure to stop by on our page to engage and join in on the fun (it’s also a great way to stay in tune and get updates on the latest content being released).