Are you a Uber or Lyft driver looking for expert and affordable San Diego Uber Lyft tax preparation? Then Golden Hill Tax Solutions in San Diego is the firm you are looking for! As an experienced Enrolled Agent with over ten years of modern tax preparation experience, I am uniquely qualified to prepare your small business tax return.
As an expert in all taxation aspects of the shared or gig economy, I can guide you through the complex tax laws and regulations associated with driving for Uber and Lyft. Our goal is to enable you to keep more of the hard earned money you make as a small business entrepreneur by maximizing your legal deductions and expenses incurred in the operation of your business.
Expert and Affordable San Diego Uber Lyft Tax Preparation
We take pride in educating our Uber and Lyft clients in all areas of small business operations and tax planning as they pertain to driving for Uber and Lyft.
And price? You will find that our fees for a Schedule-C Uber/Lyft tax return are very competitive. We are definitely more reasonable than a tax chain or CPA firm and, as an added bonus, we actually know what we are doing.
Getting Started
Business license – Yes, you must have one! Once you file your first Schedule C business tax return, the city is going to know about you and they will penalize you for not having one which will turn a cheap fee into a very expensive one. Just do it!
Choose an accounting method – Cash or accrual? Do you know the difference? We can explain.
Separate checking account – You should have one! You are a business owner now, start acting like one, and besides, the right checking account can double as your bookkeeping software. Your business is very simple and you do not need to pay for Quickbooks or a bookkeeper.
EIN (Employer Identification Number) – Get one, they are free and you will not have to give out your social security number to strangers.
Deductions
Automobile deductions – Standard Mileage Deduction or Actual Expense Method? Do you really understand which method is best for your specific situation? Let us explain the advantages and disadvantages of both methods.
Mileage logs or apps? – Are you sure you understand what mileage you can deduct? Are you familiar with with the different rules for deducting vehicle expenses for a rented or leased vehicle? There are major differences and you can get yourself in trouble quickly if you are not familiar with those rules.
Business vehicle disposition – Do you know what happens when you sell your business vehicle or trade your business vehicle for a new one? Most taxpayers and tax preparers don’t understand the tax ramifications of a business vehicle disposition. We do. *Under the TCJA, new rules are in affect for business vehicle trade-ins that will more than likely make your trade-in a taxable event.
Other Expenses – Do you supply your clients with drinks and snacks? How about custom music? Which items and additional perks that you offer are legitimate expenses? We can show you.
Home office deduction – Do you qualify for the home office deduction? Do you need it? Which home office deduction method is best for you? We can show you.
Come In For A Consultation
Still undecided on whether or not to take advantage of our services? Call and schedule a consultation today. We think you will be glad you did!