Keep more of your money!
We’ll make sure you claim all deductions, such as vehicle value depreciation, fuel, car washes, periodic car maintenance and more.
The Canada Revenue Agency (CRA) requires that ridesharing (UBER/Lyft) drivers file income tax each year. Income tax is not deducted from the earnings you made throughout the year. It’s your duty to pay your income tax at tax time.
If you are unable to pay the taxes you owe, you are still better off filing the tax return rather than holding onto it. If you do not file, you will be hit with penalties, and then interest will be charged on the original amount you owe plus the penalties.
CRA received a vast amount of information from Uber, the information shows amounts paid to independent contractors, which the CRA then matches up to ensure the Uber driver reported the correct amount of income. If the numbers do not match up, an audit is commenced. CRA AUDIT IS A BAD NEWS!
As your UBER/Lyft tax consultant, we’ll make sure you claim all deductions, such as vehicle value depreciation, passenger entertainment costs, fuel, car washes, periodic car maintenance and more. If you cannot file your taxes, if you need guidance, if you are being audited, or need some assistance with your taxes, contact us today because we can help.
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Let us file your taxes with a remote tax expert all from the comfort of your home. If you are cautious because of COVID-19 or a Canadian living or working abroad, we can help you file your tax return remotely. Virtual tax preparation options let you file your taxes with a remote tax expert from the comfort of your home. Click here for details.