Join Garrick Chow for an in-depth discussion in this video Tracking mileage, part of Working in the On-Demand Economy.
- If you're working with a service…in which you either drive your own car…such as with Uber or Lyft or Sidecar…or if you rent your car to others…such as with Relay Rides, or getaround.com,…you'll want to make sure…to keep close track of your mileage.…As of 2015, the IRS allows you to deduct…57 and a half cents per mile when you operate…your vehicle for business.…Depending on how many miles you're putting in,…this could end up being a significant deduction.…If you're not tracking your miles,…you're leaving money on the table.…
One of the simplest things you can do…is to use the trip odometer on your car…and reset it each time you start driving for work.…At the end of your shift, note the mileage.…Again, I suggest using something like a Google Doc…or spreadsheet on your phone so that…you can enter the data right away.…And you'll automatically be able to…access your data from your computer…or other device later when you need it.…You can of course also find…specialized apps for tracking mileage.…For example, doing a search for…
Garrick Chow explains the basic structures of the on-demand economy and the skills and characteristics of successful on-demanders, so you can determine if on-demand work is the right fit for you. Then learn about the time commitment and expectations around pay, what the employer provides, and what one can expect from clients. Garrick then discusses tools to keep you organized, including how to best track income and expenses.
Finally, the course offers tips and tricks and a case study based on the author's firsthand experience as an Uber driver.
- Preparing to work on demand
- Managing expectations from on-demand clients
- Tracking expenses and mileage
- Optimizing your income
- Getting support online
- Case study: Becoming an Uber driver