Author Topic: Handling Taxes on Uber / Lyft Side Hustle  (Read 371 times)


  • 5 O'Clock Shadow
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  • Posts: 90
Handling Taxes on Uber / Lyft Side Hustle
« on: June 20, 2018, 01:34:21 PM »
I am testing the early retirement waters and am driving for Lyft 2-3 evenings per week.  I make a pretty decent salary on my regular job.  I have opted not to do quarterly estimates as I think the two to three hundred dollars per week will just come out in the wash and I'll maybe owe a little extra.  As I calculate it, the mileage deduction pretty much equals the dollars I'm getting.  Am I screwing up? 


  • Bristles
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  • Posts: 295
  • Location: Northcentral PA
    • Care CPA - Tax, Accounting and Payroll
Re: Handling Taxes on Uber / Lyft Side Hustle
« Reply #1 on: June 20, 2018, 07:06:46 PM »
You're probably fine. At 54.5 cents per mile, it doesn't take long for the mileage rate to eat up your earnings.
Always happy to help with tax or accounting questions - feel free to private message me or check out

I am a licensed CPA in Pennsylvania. However, any tax advice I give should be considered general information and not used in the avoidance of tax. There is most likely information about your situation that I do not know, and thus you should do your own additional research.


  • Bristles
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  • Posts: 388
  • Location: Massachusetts, USA
Re: Handling Taxes on Uber / Lyft Side Hustle
« Reply #2 on: June 25, 2018, 01:42:36 PM »
I'd say you'd be fine. I did taxes as a volunteer (VITA Program) for the past two seasons which included a fair number of folks with some Uber/Lyft income. After accounting for mileage the tax impact was minimal.