So You Doordashed Your Way to Tax Day: A Not-So-Depressing Guide
Ah, tax season. The time of year that inspires about as much enthusiasm as a lukewarm cup of coffee. But fear not, fellow DoorDasherinos (and yes, I just invented that term), for this guide will navigate you through the thrilling world of filing taxes without making you want to hide under a mountain of fries.
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| How To File Taxes For Doordash |
Step 1: Acquiring Your Precious Tax Form, The Not-So-Holy Grail
First things first, you need your 1099-NEC form, which basically details all the moolah you made dashing around like a delivery ninja. Here's the exciting part: playing a game of tax form hide-and-seek! Did you opt for paperless delivery? Then keep an eye on your email for a mysterious message from Stripe Express (DoorDash's tax form delivery partner, because apparently ninjas use fancy couriers).
If you're more of a traditionalist (or just haven't gotten around to updating your email preferences), then brace yourself for a thrilling postal adventure! Your form should arrive by mail sometime in January. Just be patient, and if it doesn't show up by February, don't panic! Contact DoorDash support and they'll help you track down your lost tax treasure.
Step 2: Understanding Your Form, Because Numbers Can Be Scary (But Not Today!)
Now, let's crack open that 1099-NEC and see what goodies lie within. Don't worry, it's not rocket science! The most important number is your gross earnings, which is basically all the money you made dashing. Easy enough, right?
QuickTip: Note key words you want to remember.
Step 3: Deductions, Glorious Deductions! (Because Who Wants to Pay More Than They Have To?)
Here's where things get interesting. As a self-employed hero, you get to deduct certain expenses from your earnings, which lowers your taxable income (and the amount of taxes you owe...cha-ching!). Think of it as a reward for all those miles you put on your car!
Here are some common DoorDasher deductions to keep in mind:
- Mileage: The good ol' reliable. You can deduct a standard mileage rate set by the IRS for each business mile driven.
- Cell phone: Because let's face it, your phone is basically your lifeline as a Dasher.
- Car maintenance: Oil changes, tire rotations, the occasional breakdown from all that dashing - it all adds up!
- Hot bags and other supplies: Gotta keep those fries warm, right?
Remember: Keep good records of your expenses throughout the year. Receipts are your friends!
Tip: The middle often holds the main point.
Step 4: Filing Your Taxes (The Not-So-Grand Finale)
Now that you've gathered your form and figured out your deductions, it's time to actually file your taxes. There are three main options:
- Do it yourself (DIY): There are plenty of free online tax filing services available. Just be prepared to invest some time and elbow grease.
- Tax software: This is a good option if you're comfortable with computers but want a little more guidance.
- Hire a tax professional: If the thought of tax forms makes you break out in a cold sweat, then consider hiring a pro. They'll handle everything for you, for a fee, of course.
Important Note: This guide is for informational purposes only and should not be considered tax advice. Always consult with a qualified tax professional for personalized guidance.
FAQ: Doordash Taxes - The Quick and Dirty
How to track my miles for deductions?
Tip: Context builds as you keep reading.
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There are many apps available to track your mileage, or you can simply keep a detailed log.
What if I forgot to keep receipts for my expenses?
The IRS allows for a simplified method for deducting expenses without receipts, but consult with a tax professional for details.
Tip: Avoid distractions — stay in the post.
Can I deduct gas for personal use?
No, only gas used for business purposes can be deducted.
What if I made less than $600 DoorDashing?
Technically, you don't need to file a tax return, but it might be a good idea to do so anyway to claim any tax refunds you may be entitled to.
How do I know if I owe estimated taxes?
If you expect to owe more than $1,000 in taxes, you may need to make estimated tax payments throughout the year. Consult with a tax professional for more information.
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