Your Results
Gross Earnings
$3,500
Uber/Lyft Service Fee (~25%)
-$875
Net After Platform
$2,625
Monthly Expenses
Gas
-$252
Vehicle Payment
-$0
Insurance
-$150
Phone
-$50
Maintenance Reserve
-$100
Total Expenses
-$552
Net Income
Monthly Net Income
$2,073
Per Hour (gross hrs)
$20.73/hr
Per Mile (before tax)
$0.83/mi
Tax Estimate (1099 Self-Employment)
Self-Employment Tax (15.3%)
-$402
Est. Federal Income Tax
-$0
Quarterly Payment (to IRS)
$134/mo
True Monthly Take-Home
$1,671
๐ก IRS Tip: Set aside $134/month for taxes. Use a separate savings account so you never spend it.