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Old 10-11-2015, 03:59 AM   #41
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Originally Posted by Daniel J View Post
Does Uber deduct taxes, etc. from driver compensation? If not I bet many will be in for a rude surprise at tax time when they get the 1099 . . . .

No withholding or SS. This is Self employment income. Drivers have to file quarterly.
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One in four Uber drivers over 55
Old 10-11-2015, 04:08 AM   #42
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One in four Uber drivers over 55

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Originally Posted by jazz4cash View Post
, I don't know why big city cab systems would not incorporate a software and payment system similar to Uber. It would address their two biggest issues: driver safety and payment.

The issue with big cab companies is cost. They can accept e-payments and usually are safe but they cost 2x-3x the cost of uber to take a ride

One must ask economically how uber can be so much cheaper. Well... The hidden costs are passed on and absorbed by the uneducated or unaware driver .. As stated - car wear and tear. Depreciation. Insurance and spare parts and taxes.

And when drivers realize this and drop off / leave, uber just finds new drivers. There is a reason uber pay a 150 dollar finders fee for new drivers.

The economics don't lie. The winners are the riders. And uber as a company. The drivers are the squeeze point. They may be able to pocket some quick cash for a couple months but the pay is below minimum wage in a sustained basis for all but the most clever drivers who know how to work the surge pricing and receive off the books tips (which uber highly discourages) ...
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Old 10-11-2015, 06:26 AM   #43
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^^ Does the rider have any choice or feedback about the type of car he/she gets to ride in? I might consider doing this , just maybe , because I can beat the depreciation aspect. I already have a small fleet of old diesels that were pretty much made for taxi duty. For example Mercedes 240Ds that were once the standard taxi in Germany. Perfectly functional, but 1980s safety and comfort standards.
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Old 10-11-2015, 11:44 AM   #44
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Actually, I've checked and double checked - pause, old timers - it is not exactly logical but the insurance companies actually have begun to catch up with the whole "sharing economy" concept.

https://www.policygenius.com/blog/ub...rance-options/

Read the entire article. Read the follow on comments too. They talk about prior gaps and the many insurance companies now changing policies to accommodate ride sharing.

Also talks about the cover that uber provides while on a ride call.
Ok. I went to the website and read the article. It lists 12 out of 50 states where a few insurance companies have NEW POLICIES, usually underwritten by their COMMERCIAL divisions.

Earlier, you said:

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Originally Posted by papadad111 View Post
My auto insurance and umbrella cover me. Others may not. Best to Check into it.

It's rated same like delivering pizza. Most often auto rates are adjusted based on miles annually driven regardless if it's work or pleasure driving.
I read your statement to imply that your (and most other peoples') standard personal auto coverage would work just fine if you were an Uber/Lyft driver, without any need to change. The website you listed has every single example referencing either a commerical division with a product specifically designed for ride-sharing, or a new policy/rider that costs more than a standard personal auto policy. Clearly implying that it's not just your standard, run-of-the-mill personal auto policy that the insurance company doesn't care if you are a driver-for-hire or not.

Also, to directly counter your earlier claim, one company stated in their press release that

Quote:
business use “traditionally has covered people who use their personal cars for things like delivering pizza or flowers, but has historically excluded… people who use their cars as taxis.” Erie’s new insurance products lifts that exclusion.
They are specifically ending this clear exclusion for those who use their cars as taxis, with their new insurance product. Implying that it's still a standard exclusion in their auto policies that isn't the "same as delivering pizza" - or else there is no point in noting this important development.
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One in four Uber drivers over 55
Old 10-11-2015, 01:48 PM   #45
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One in four Uber drivers over 55

I'm not looking to nit pick or argue. You can infer what ever you want but don't come in here looking for a fight or being snarky because you infer something differently.

By all means, Do your homework.

Via USAA, I'm covered which is all I care about ! For me it was no change required to my policy.

I guess any individual uber driver depending on state, insurance carrier, net worth, umbrella policy etc etc would be wise to check and do the same if they felt the so called "gap" in coverage was a big deal.

I checked and I'm cool 👏👏👏
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Old 10-11-2015, 01:57 PM   #46
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Reference beating depreciation - uber requires vehicle to be 2005 or newer and presumably each year that gets bumped up by a year to prevent POS vehicles from being used ... For safety Etc etc.

It's quite interesting this sharing economy.

In our day we would have never hitch hiked or accepted a ride from a stranger.

It's a new world.
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Old 10-11-2015, 02:40 PM   #47
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No withholding or SS. This is Self employment income. Drivers have to file quarterly.

Do they send out 1099s ?


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Old 10-11-2015, 03:18 PM   #48
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Reference beating depreciation - uber requires vehicle to be 2005 or newer and presumably each year that gets bumped up by a year to prevent POS vehicles from being used ... For safety Etc etc.
Well, I'm out. They are really playing their drivers for chumps then (no offense to you papadad). There is no way for drivers to make any real money (as opposed to cash) burning up a new car for the kind of return they are talking about.
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Old 10-12-2015, 11:02 AM   #49
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Do they send out 1099s ?


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Yes. They do send out 1099.
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One in four Uber drivers over 55
Old 10-12-2015, 11:07 AM   #50
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One in four Uber drivers over 55

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Well, I'm out. They are really playing their drivers for chumps then (no offense to you papadad). There is no way for drivers to make any real money (as opposed to cash) burning up a new car for the kind of return they are talking about.

No offense taken. I signed up as an experiment really, no intention of making this my living !! But like everyone on here I was curious so rather than hearsay , I jumped in with both feet and gave it a go.

Yes. I agree with your position vis a vis drivers.

Now If there were hundreds of drivers all ride sharing, in theory they would be like me, making one or two for hire trips a week to pay for gas etc and that would hardly be noticed in the depreciation or wear and tear department. Being a dad and having chauffeured teens all over the place, an extra trip or two maybe won't matter much .

But long term the driver pay and cost math just doesn't make any sense to me either.

What's more troubling is the original thread comment that 1 in 4 is over 55 and may be doing this to cover their pension or SS or retirement income shortfall - Maybe a short term cash fix but long term not really helping them much.... Almost like a payday loan. Yuck...

It's gonna be a great masters thesis at any rate !
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Old 10-12-2015, 07:24 PM   #51
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No withholding or SS. This is Self employment income. Drivers have to file quarterly.

Thanks!
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