Hello Murtaza, great video and insights especially for new Uber drivers. I do Uber rideshare 3 consecutive days a week. I have a question regarding car mileage that can be claimed for taxes. For example, this week I drove 845kms (odometer reading before and at end) but I drove passenger for 301kms (as per Uber app when passengers are physically in the car). So, which mileage do we claim for taxes ...... 301kms or 845kms? I drove the extra 544kms between pick-ups etc. Many thanks
@instaccountant
2 ай бұрын
Only the business related portion is deductible.
@Khalednaik5
2 ай бұрын
Thank you so much, sir. very very very informative. Do we have to file HST return and pay HST to CRA monthly or at the end of the year?
@instaccountant
Ай бұрын
The frequency of filing HST returns and payments depends on your annual revenue.
@rohitkumarborra5009
5 ай бұрын
Hello, I didn't save any receipts for Uber expenses, but I have them written in my notebook. What would you suggest to me in this case?
@instaccountant
5 ай бұрын
I would recommend using those notes as a basis for estimating your expenses.
@rappy90
10 ай бұрын
Thanks for the video! I currently use excel and have spread sheets of all my gas expenses, repairs, mileages driven while on the app etc. Got all the receipts in a file folder. I will check out the app though!. On a new note, Parliament of Canada passed Bill C-47, which mandates that companies like DoorDash report all transactions conducted through their platforms, we now have to provide our TIN/SIN so that means CRA is going to know what we made before we even report it so less will be able to dodge paying income tax. One question though, can your expenses claimed toward the self employment income outweigh your taxable income to a point where it will actually generate a return? (Similar to over paying on your T4 income) Or does it zero out and not go any further?
@instaccountant
10 ай бұрын
Your expenses may outweigh the income but may not get a refund. you get a refund in T4 because of tax already deducted at source. its ok to report more expenses as long as they are business related and legit. Thanks for watching the video subscribe!
@instaccountant
9 ай бұрын
You might find the Zoombooks app helpful! It's perfect for tracking expenses and bookkeeping for tax purposes.
@matthewmacneil4204
4 ай бұрын
Hello, I have a question. I am looking to start Uber driving. I primarily use my dads car for the majority of the year and am looking to use his car to do Uber rideshare. I am under the insurance policy but not the owner of the car. How will this work with taxes/ is there anything I need to do in this situation to be able to deduct expenses at the end of the year? Thanks!
@instaccountant
4 ай бұрын
You'll need to keep detailed records of your business-related expenses.
@kamijodhani
9 ай бұрын
HI , thanks for info. Can you please tell me should we use quick method for GST/HST or regular method? I'm employed and do uber part time . another question should we file Taxes first or remit GST first?
@instaccountant
9 ай бұрын
Regular method for Uber drivers is better
@instaccountant
9 ай бұрын
File first. If you know how much you owe, you can do the payment to avoid interest.
@tubelad7940
6 ай бұрын
Do we need to keep physical receipts for 6 years or digital copies would be enough?
@instaccountant
6 ай бұрын
Digital copies of receipts are sufficient
@garylivingston144
8 ай бұрын
i dont know if taxes work the same way for Uber in Canada and US but I have a question. In the US Uber independent contractors get a Year end tax summary. I pay income tax on Gross Trip Earnings. That is not the amount of money that goes to the bank. Do you know why I pay income tax for Uber on Gross Trip Earnings but on Doordash and Grubhub I pay the amount of money I earn that gets deposited to the bank. Is Uber doing the accounting incorrectly or is DD and Grub doing the accounting incorrectly? Uber does the work one way and DD and Grubhub do the accounting another way. I dont understand this matter.
@instaccountant
8 ай бұрын
This doesn't necessarily mean anyone is doing the accounting incorrectly. It just reflects different approaches to reporting income for expenses.
@garylivingston144
8 ай бұрын
@@instaccountant How and/or why do companies in the same industry get to have different approaches to report income for expenses?
@jakebarker1
5 ай бұрын
What about mileage? Is it deductable?
@instaccountant
5 ай бұрын
Yes, mileage driven while working for Uber is deductible as a business expense.
@anissouzerrout8505
8 ай бұрын
Thanks for the video and Q&A! You said it's mandatory to register for HST if the income from food Delivery reaches CA$ 30,000. Is this $30K amount considered as being the result of the combined income from another source or is it just for delivery regardless of any other salary from a regular full/time part job? Let me please clarify just in case : CA$ 60,000 annual gross income from employment + CA$ 20,000 annual income from food delivery : is HST registration mandatory?
@instaccountant
8 ай бұрын
No it's not mandatory. Please subscribe
@Sam-m6w2m
6 ай бұрын
Hi I have a question how much tax I pay if I had 2 jobs one is part-time I made 18k and other is uber I made 24k gross 19k net income so combined is 37k approximately speaking ?
@instaccountant
6 ай бұрын
The actual amount of tax you owe could be higher or lower. Consult with a tax professional who can take your specific situation into account, including deductions (car expenses, phone and internet) you may be eligible for.
@Sam-m6w2m
6 ай бұрын
@@instaccountant for Example based on 37k after expenses and everything how much you think I could pay?
@earthexplorer579
6 ай бұрын
Hi my wife is registered as self employed and has br, i driver uber can i use her BR for my uber?
@instaccountant
5 ай бұрын
No
@sameergarg5557
7 ай бұрын
If i have income low in uber less than 30k Do i have to register for HST ?
@instaccountant
7 ай бұрын
If you are an uber rideshare driver, HST registration is mandatory from the first ride onwards.
@noorarfeen6279
9 ай бұрын
I liked your video. but next time try to be lil short!!
@instaccountant
9 ай бұрын
Sure, will keep it concise next time! Thanks for watching! Subscribe
@Mtaatmfyjjyrddddrr
9 ай бұрын
Bro I live in Nova Scotia , can you apply tax for me, and what’s the contact number of your company?
@instaccountant
9 ай бұрын
We can connect at +1 647-243-2884. Thanks and subscribe!
@instaccountant
6 ай бұрын
File your 2023 Uber/UberEats/ tax return for only $60! Limited spots available! instaccountant.com/uber-driver-tax-return-canada-2023-offer/
Пікірлер: 35