Limo and black car drivers tax write-offs
Varies
What Can Limo and Black Car Drivers Write Off?
Short answer: The biggest write-offs for limo and black car drivers are the vehicle, commercial insurance, permits, and fuel.
Report income and expenses on Schedule C. Profit is hit with 15.3% self-employment tax plus income tax, so set aside 25-30% and pay quarterly estimates.
Records to keep: Keep receipts, 1099s and platform tax summaries, a mileage log, and a note of the business purpose.
Limo and black car drivers tax write-offs
Varies
Gig Economy / Rideshare / Delivery Apps
The biggest write-offs for limo and black car drivers are the vehicle, commercial insurance, permits, and fuel.
Business justification
The biggest write-offs for limo and black car drivers are the vehicle, commercial insurance, permits, and fuel. Report income and expenses on Schedule C. Profit is hit with 15.3% self-employment tax plus income tax, so set aside 25-30% and pay quarterly estimates.
Category
- Write-Offs by Profession