Re:My 300 Mile Lyft Ride From Chicago to Bradford
by crooked-v on Tuesday July 23, 2019 @06:28PM
(#20510799)
$0.58 per mile is the standard IRS deduction for business use of a car, meant to fully encompass gas, maintenance, etc., which would suggest a total expected cost of about $348 if you include more than just gas.
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Re:My 300 Mile Lyft Ride From Chicago to Bradford
by rustguy on Tuesday July 23, 2019 @07:09PM
(#20511036)
Even worse, that deduction is very conservative. Like, 1990 Ford Escort conservative. AFAIK, the business use deduction is almost always more if you list all your expenses on a percent-business basis compared to taking the $.58/mile.
Re:My 300 Mile Lyft Ride From Chicago to Bradford
by colechristensen on Tuesday July 23, 2019 @07:17PM
(#20511070)
It would but it isn't a great suggestion. If you're trying to optimize costs you can beat that by a huge factor.
$0.58 per mile is about how much it costs to lease a car at $350/month and pay for gas, which is what you would do in an upper middle class job requiring lots of travel.
So if you get a new, fairly nice car every three years and use it exclusively for Lyft, you won't make any money.
If you want to make more money than zero, own your car for longer and do some of the maintenance yourself.
Re:My 300 Mile Lyft Ride From Chicago to Bradford
by bryanlarsen on Wednesday July 24, 2019 @09:19AM
(#20514945)
>So if you get a new, fairly nice car every three years and use it exclusively for Lyft, you won't make any money.
Doesn't Lyft require you to drive a fairly new, fairly nice car?