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The government expects a cut of your Uber or Lyft earnings. Fortunately, there are a number of tax deductions you can take advantage of to reduce how much you owe.Image source: Getty Images.
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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
The business use of your car can be one of the largest tax deduction you can take to reduce your business income. Skip to main content. Taxes. 24/7 help. For premium support please call: ...
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Uber and Lyft settled investigations into whether they took pay from drivers for a price tag of $328 million.
Some lower income individuals pay a proportionately higher share of payroll taxes for Social Security and Medicare than do some higher income individuals in terms of the effective tax rate. All income earned up to a point, adjusted annually for inflation ($106,800 for the year 2010) is taxed at 7.65% (consisting of the 6.2% Social Security tax ...
Eligible Uber and Lyft drivers throughout New York can file a claim to receive the funds they are owed. Uber, Lyft drivers may be eligible for settlement money. How to claim your back pay
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