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Top related persons:
— - 3 Uber - 3 Lisa Greene - 3 Lewis - 3 Ceran - 2 Kia Forte - 2 he's - 2 they're - 2
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Search resuls for: "Lisa Greene"


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☆ A boomer Uber driver made over $100,000 but lost $80,000 to expenses and commissions. He shares why he plans to keep driving.
  + stars: | 2024-02-05 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +7 min
But after Uber took its cut and his driving expenses were accounted for, his profits fell to about $20,000. How commissions and driving expenses reduce drivers' profitsOf Ceran's roughly $83,000 in total business expenses, $38,000 consisted of Uber's booking and service fees — effectively the commission the company takes from drivers' earnings. After accounting for Uber's commission — and before expenses — Ceran saw as much as $65,000 in Uber income enter his bank account in 2023. The $44,000 deduction was an estimate for tax purposes, so it's possible his true vehicle expenses weren't quite that high. His first year driving Uber, 2016, was more eventful than anticipated: He got caught in Hurricane Matthew while driving in Norfolk, Virginia.
Persons: —, Ceran, Kia Forte, Uber, he's, they're, Lisa Greene, Lewis, Greene, — Ceran, he'd Organizations: Service, Business, BI Locations: Virginia, Hurricane, Norfolk , Virginia
☆ A boomer Uber driver made over $100,000 but lost $80,000 to expenses and fees. He shares why he plans to keep driving.
  + stars: | 2024-02-05 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +7 min
A boomer Uber driver's business had over $100,000 in earnings but only $20,000 in profits. But after Uber took its cut and his driving expenses were accounted for, his profits fell to about $20,000. The $44,000 deduction was an estimate for tax purposes, so it's possible his true vehicle expenses weren't quite that high. AdvertisementThat said, commissions and driving expenses took a significant cut out of his business's profitability. His first year driving Uber, 2016, was more eventful than he anticipated: He got caught in Hurricane Matthew while driving in Norfolk, Virginia.
Persons: boomer, —, Dean Ceran, Kia Forte, Uber, he's, Ceran, it's, haven't, they're, Lisa Greene, Lewis, Greene, — Ceran Organizations: Uber, Service, BI Locations: Virginia, Hurricane, Norfolk , Virginia
☆ A boomer shares how Lyft driving has been a retirement hack — supplementing his income while allowing him to draw on his Social Security without penalty
  + stars: | 2024-01-15 | by ( Jacob Zinkula | ) www.businessinsider.com   time to read: +5 min
For entertainment expenses like travel and eating out, however, he planned to use income from a part-time job and draw on his Social Security benefits. But there was one challenge with this plan: If Americans draw on Social Security before their full retirement age, then there's a limit to how high their taxable income can be before their Social Security benefits take a hit. The Social Security Administration says it will deduce $1 from benefit payments for every $2 one earns above the annual limit, which is $22,320 in 2024. "Because the driver can deduct his mileage from his side gig income and make below the earnings limit, his Social Security income will not be reduced," she said. "Many retirees often begin working side gigs, do freelance work, or receive other retirement income without knowing how other streams of income can impact how their Social Security income is taxed," she said.
Persons: —, Mark McCann, wouldn't, McCann, it's, Uber, — McCann, Lisa Greene, Lewis Organizations: Service, Business, Social Security, Social Security Administration Locations: Dallas, Lyft
☆ 4 expert tips to make taxes less painful next year
  + stars: | 2023-04-01 | by ( Holly Johnson | Avril Ayers | Freelance Writer | ) www.businessinsider.com   time to read: +6 min
About a quarter of Americans waited until the last two weeks to file their taxes last year. You can create a plan to file early next year with a schedule and an organization system for your documents. Editor's Rating 4.2/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On TurboTax's website Learn more On H&R Block's website Learn more On Tax Slayer's website1. You'll want to begin gathering documents related to your taxes all in one place throughout the year. "Half the battle when it comes to preparing your taxes is rounding up all your tax documents," said Allec.
☆ Yes, You Can Put Your Taxes on a Credit Card. Here’s How to Make It Work
  + stars: | 2023-03-23 | by ( ) www.wsj.com   time to read: +14 min
Sign-up bonusesA much better strategy, according to credit card experts, is to use a hefty tax payment to help you qualify for a generous sign-up bonus on a new credit card. Downsides of paying taxes with a credit cardIn addition to fees, paying your taxes with a credit card isn’t without downsides. Most credit card issuers report your credit card balances and the amount of available credit to all three major credit bureaus monthly. Although having a large balance on a credit card can impact your credit score, the effects aren’t permanent. How to pay federal taxes with a credit cardThe IRS does not directly accept tax payments via credit card.
☆ Here's how to report 2022 crypto losses on your tax return
  + stars: | 2023-03-15 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +3 min
But if you're still recovering from last year's losses, it may be possible to score a tax break on your 2022 return. The crypto market plunged by nearly $1.4 trillion in 2022 after a series of bankruptcies, liquidity issues and the collapse of FTX, one of the biggest crypto exchanges. If you're itching to claim a crypto loss on your taxes, there are a few things to know, experts say. Offset gains with crypto lossesOne of the silver linings of plummeting assets is the chance to leverage tax-loss harvesting, or using losses to offset gains. If your crypto losses exceed other investment gains and $3,000 of regular income, you can use the rest in subsequent years, Greene-Lewis said.
☆ How to Read Your Pay Stub
  + stars: | 2023-03-09 | by ( ) www.wsj.com   time to read: +14 min
So residents of these states may have to work a little harder to track their earnings if their employer elects to forgo sharing pay stub documents. Only residents of California, Hawaii, New York, Rhode Island, New Jersey, and Puerto Rico will see this on their pay stub, according to Greene-Lewis. 10. pretax DeductionsDepending what workplace benefits are offered by your company and which ones you’ve elected to participate in, you may see pretax or before-tax deductions listed on your pay stub in addition to the various taxes you must pay. There is also another kind of common FSA you might be contributing to that could appear on your pay stub: the dependent-care FSA. Any after-tax withholding your employer makes should be noted on the pay stub.
☆ How to Read a Form 1098-E
  + stars: | 2023-03-02 | by ( ) www.wsj.com   time to read: +10 min
By Kerri Anne RenzulliIf you have student loans, chances are you’ll encounter the IRS’s Form 1098-E. Those with multiple loans across multiple lenders will be sent a separate 1098-E form by each lending institution. But for those who do, this mark indicates that you took out your student loan before Sept. 1, 2004. Instead of relying on the Form 1098-E, you’ll need to request or download records of what you paid in interest and your payment history from your loan servicer, says Greene-Lewis. Who can claim the student loan interest deduction The $2,500 deduction phases out as your modified adjusted gross income rises.
☆ After a tough year for crypto, here's how to handle losses on your tax return
  + stars: | 2023-01-30 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +3 min
Plus, there's currently no "wash sale rule" for crypto. The rule blocks the tax break if you buy a "substantially identical" asset 30 days before or after the sale. If your crypto losses exceed other investment gains and $3,000 of regular income, you can use the rest in subsequent years, Greene-Lewis said. But it's easy to lose track of carryover losses and miss future opportunities to lower taxes, she warned. If you wind up getting, say, 10% back after claiming a bad debt deduction, that 10% becomes regular income.
☆ 3 lesser-known ways to trim your 2022 tax bill or boost your refund before year-end
  + stars: | 2022-11-25 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
"It's always exciting to reap the rewards of hard work by getting a year-end bonus," said Lisa Greene-Lewis, a CPA and tax expert with TurboTax. However, by receiving the money in January, you may reduce 2022 income without waiting too long for the funds, assuming your company allows it, she said. Prepay future medical expenses for a deductionIt's not easy to claim the medical expense deduction. For 2022, there's a tax break for unreimbursed medical expenses that exceed 7.5% of your adjusted gross income. Of course, you'll need to project your adjusted gross income, total itemized deductions and tally your previous 2022 medical expenses first.
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