In addition to deducting your vehicle expenses (like your mileage!), you can also deduct many other business expenses.
If you incur a business expense, then it’s deductible. There are many business expenses that are considered “ordinary and necessary” for running a rideshare business. You can find a complete list of them here.
A few items include:
- In-car food and drink items that you buy for your passengers
- A portion of the cost for your cellular phone and wireless plan
- Accessories such as dashboard mounts, cables, and chargers (including extra chargers for your passengers)
- Electronic toll transponder (like parking fees, the cost of tolls are also deductible!)
- Vehicle expenses (including tools for car maintenance, like tire pumps and jumper cables).
Just be sure to only deduct the portion of these expenses that are for your business, not for personal use. For example, if you use your cell phone for work 50% of the time, you would only deduct 50% of your phone costs.
As a reminder: Keep track of any receipts when you spend money on job-related expenses. You can easily upload them in the Stride app when adding any expenses!