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Main Street Business

208: Tax Strategies for Uber and Lyft drivers

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4584 Ratings

🗓️ 16 August 2018

⏱️ 38 minutes

🧾️ Download transcript

Summary

This is a show for anyone that is doing freelance, a 'side gig' or driving for Uber or Lyft. Mark and Mat discuss all the important tax strategies that work for the new business owner and specifically to that of a driver for hire. For more information check out www.refreshyourwealth.com. Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Business Owners On Main Street America:&...

Transcript

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0:00.0

Broadcasting worldwide on Internet Radio.

0:07.6

Refreshing takes on legal strategies.

0:10.1

Straightforward answers to difficult tax questions.

0:13.2

Independent ideas on building wealth.

0:15.8

It's the Refresher Wealth Show with Mark Kohler and Matt Sorensen.

0:19.8

Get your free copy of Mark and Matt's ebooks and sign up for their weekly free newsletter with important tax deadlines and articles at refresh your wealth.com.

0:28.7

Now, here's Mark and Matt.

0:55.1

Yeah. Welcome, everyone to another amazing hour of the Refresh Your Wealth podcast. Thanks so much for being with us today. If you are new to this show, we want to let you know.

0:59.0

This show is all about saving taxes, protecting your assets.

1:02.4

Just, you know, trying to help you better live the American dream.

1:08.9

And I am with the amazing Mark J. Kohler, my co-host, the man, the myth, the legend.

1:10.5

He's with those folks. That was an powerful intro.

1:13.0

Thank you, sir. I was going to say, this is more than just taxes illegal. This is your

1:16.7

American dream, baby. And what, what podcasts have a, you know, a tailored show just to

1:23.3

saving tax, building wealth? You know, no one wants to talk about this stuff. It's too boring, but not with us, man. People can't get enough of it, man. It's important. It's important. What affects your life more than anything? I mean, paying taxes is the number one expense of any business owner. Anyone who's self-employed, you know, you know, that's like the, that's the partner you have in your business that gets a cut all the time. They're always going to get their cut. They don't do anything. Yeah. I know Matt feels some way in that partnership. He's like, why are you getting a cut, you know? And I'm like, oh, yeah, contrary, no way. All right. Well, today's topic is, of course, if you've seen the title, is Uber and Lyft drivers.

2:03.9

This is for you, baby.

2:05.3

And I think this is going to be a lot of fun for our regular listeners, too, to get a sense of what's going on in an Uber driver's world and what that's like.

2:13.6

I know we have business owners that they encourage encouraged their kids or parents or brother or sister

2:18.7

to start making a little money on the side, driving Uber or Lyft. And you're going to have some

2:23.5

tips to share here. This is going to be good stuff. And again, I say this humbly, Matt, but like,

2:29.8

you know, Matt and I are tax lawyers. We're helping business owners every day that are in the trenches.

2:36.1

You know, most tax lawyers like Matt and I, I'm not kidding, they work in Chicago, New York,

...

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