Uber with a Tesla

[LyftupX]

That’s interesting. So the ride sharing platform will automatically place you in the “luxury” category which pays out more but the fragrance of rides will be less?

Select and Lux pay approx double what X does . And yes like everything else in this world ... price rules 90% + of your rides will be base unless you want to sit Around and hope for the higher prices pings.

Surprised I have yet to see someone say Uber will place the Model 3 in the Select category.... it should based on the vehicle and price.

For example on XL (suv category) weekends I will hold out and take only those rides (they pay double, I can do $35-$45+ per hour ). It works out because people go out in crowds... during weekdays , forget about it.

 

[pandam3]

Curious... does Uber Eats have any rules about hiring several people to drive several electric cars for food delivery? I might just want to buy a fleet of cheap EV’s.

Also this seems interesting to do on my downtime. I make a really good living, however I have no life on the weekends and no kids so lots of time on my hands... might be nice to do for a little extra cash I guess.

 

[LyftupX]

Curious... does Uber Eats have any rules about hiring several people to drive several electric cars for food delivery? I might just want to buy a fleet of cheap EV’s.

Also this seems interesting to do on my downtime. I make a really good living, however I have no life on the weekends and no kids so lots of time on my hands... might be nice to do for a little extra cash I guess.

Like everything .... sometimes one can have a good stretch. For the most part I would not believe his experience is the standard over time.

In my market I would never do eats. People don’t tip, and most the time the restaurants do not have you as a priority meaning more wasted time.

Again maybe his market works but I would need total hours and total miles driven for the shift to make a true assessment if it was worthwhile.

Seattle is one of the highest paid markets , and at $1.41 per mile on the base X ride I would say it’s .... ok....

 

[chronopc]

Curious... does Uber Eats have any rules about hiring several people to drive several electric cars for food delivery? I might just want to buy a fleet of cheap EV’s.

Also this seems interesting to do on my downtime. I make a really good living, however I have no life on the weekends and no kids so lots of time on my hands... might be nice to do for a little extra cash I guess.

I was thinking about doing it for fun on Sundays just so I have an excuse to drive my Model 3. I thought I was the only one crazy enough to think it was a good use of my downtime.

 

[Keith909man]

Now what if... one was to have two apps like Uber eats and DoorDash running simultaneously. Accept which ever app comes up with an order first, go off line with the other app until order completed and repeat. This In theory would help with the at times down time in between orders

 

[Trips]

Right now driving for Uber X / Lyft I am seeing about $1.25 per total mile only driving during busy times. That comes out to about $20/hour. As far as taxes go they are very minimal or zero depending on how smart you are and part of the country. I have no problem using a $60k Model 3 for rideshare or Turo as long as it is not a full time job.

Come on Tesla Network, lets get it up and running.

 

[Dana1]

Right now driving for Uber X / Lyft I am seeing about $1.25 per total mile only driving during busy times. That comes out to about $20/hour. As far as taxes go they are very minimal or zero depending on how smart you are and part of the country. I have no problem using a $60k Model 3 for rideshare or Turo as long as it is not a full time job.

Come on Tesla Network, lets get it up and running.

As a contractor you pay your and employer share of SS, Medicare, etc.

 

[timk225]

Tax question I am wondering about -- if a husband and wife are taking the standard $24K deduction for their 2018 taxes, and one of them has 1099 income from uber or lyft or whatever, and those apps record your mileage and send a tax form for your mileage, can you get both the 24K tax deduction AND the 54 cent a mile deduction from driving income?

 

[LyftupX]

Tax question I am wondering about -- if a husband and wife are taking the standard $24K deduction for their 2018 taxes, and one of them has 1099 income from uber or lyft or whatever, and those apps record your mileage and send a tax form for your mileage, can you get both the 24K tax deduction AND the 54 cent a mile deduction from driving income?

Yes you should be fine. The .54 mile will deduct from your 1099 income for your “net” business income. That amount is added to your total income and also taxed. Keep in mind , you have to pay the SE taxes (SS and Medicare) 15% or so in addition to your incremental federal % rate on the net business income. It can sting ....
I’ve shown a decent profit every year of ridesharing , if you do not it’s coming from somewhere and that just means you are killing your car mileage wise for
No true gain.

Edit : I am not a tax pro

 

[xpitxbullx]

Does using your car for Uber disqualify you from the $7500 tax credit?

 

[MorrisonHiker]

Does using your car for Uber disqualify you from the $7500 tax credit?

No.

 

[Nocturnal]

Make sure you accurately calculate your cost per mile. I think most people drastically underestimate the true cost of their car and wind up thinking they are making a good profit while they are actually just extracting "value" from their vehicle.

 

[Knightshade]

No.

https://www.irs.gov/pub/irs-pdf/f8936.pdf

That's the form for the credit.

It specifically calls out splitting the credit based on how much the car is used for business or personal use.

So getting full use might depend on how much tax liability you have on both ends depending on your specific tax situation.

So it's not a simple yes/no for everyone.

 

[TT97]

Tax question I am wondering about -- if a husband and wife are taking the standard $24K deduction for their 2018 taxes, and one of them has 1099 income from uber or lyft or whatever, and those apps record your mileage and send a tax form for your mileage, can you get both the 24K tax deduction AND the 54 cent a mile deduction from driving income?

Business Income & Expenses are part of Schedule C. The mileage deduction (plus other business expenses you may incur) offset your gross income. Your net income rolls up to your 1040 which will then be subject to standard/itemized deductions.

If you are considering self-employment, a source that help me a lot was Schedule C: from A to Z. The Sole Proprietor's Guide to Tax Savings:

https://www.nase.org/sf-docs/default-source/publications/schedule_c_from_a_to_z_2012_edition

Disclaimer: I am not a tax expert and my side income was consulting and not Uber/Lyft.

 

[shrspeedblade]

For anyone doing it, keep pestering Uber to add the Model 3 to the Select catergory, for some unexplicable reason they have yet to do it. Lyft already has.

As has been said, nice as a side gig if you keep close track of miles, have insurance, and enjoy doing it. (FYI those are 3 big IFs.)

 

[timk225]

I've looked into Lyft as a side income, but I doubt I'd do it, especially not in a Tesla. The average Uber user would not properly respect my car.

 

[Dynastar]

A stock 3 would make a great ride sharing platform, but I don't think the currently available version is a great choice. Unless of course you think that most of the 3 depreciation is going to be time based, not mileage based. I occasionally use my 2011 Leaf for Uber/Lyft which works well, but only because I live in a tiny urban area.

 

[Nocturnal]

A stock 3 would make a great ride sharing platform, but I don't think the currently available version is a great choice. Unless of course you think that most of the 3 depreciation is going to be time based, not mileage based. I occasionally use my 2011 Leaf for Uber/Lyft which works well, but only because I live in a tiny urban area.

Mechanically they might depreciate more based on time, but for the car buying public mileage will still be what matters.

 

[Rogue Synapse]

Has anybody considered doing Uber not for profit, but more for EV evangelism? I’ve given rides to several Tesla-naive (and EV-naive) friends who were shocked at how awesome, fast, high tech the car is. Might be a good way to spread awareness in your free time?

 

[texas_star_TM3]

when you do Uber / Uber eats - better check with your insurance. You ARE using your car commercially. That may or may not impact your premiums. The last thing you want is get in an accident while "working" with passengers in the car and have to explain that to your insurer.

regarding uber eats: I highly doubt it pays that well on average. the uber eats driver in my area drive poor cars and are extremely rushed. doesn't smell like a $40/hr gig

regarding uber: hell no. the wear/ tear you put on your interior is high. people sliding in an out. luggage getting bumped around the trunk. people using emergency latch to open doors. etc