Quote:
Originally Posted by ButterflySymmetry
The goal is for this year. Taxes are paid next year.
In which, been saving a lot of receipts...So much can b written off. Do u think it’s best to stay under $20k on each Rideshare app? :/
I've only done itemized deductions for normal individual taxes. Standard deduction is what around 12k? May have more from the mileage and work expenses.
Staying under 20k on each app doesn't matter. They are still gonna send you some kind of 1099 bc of the promos and tips probably. And getting a 1099k doesn't change your tax liability so 20k/app shouldn't be a consideration.
Edit: I also recall my tax software warning me that itemized deductions can increase the likelihood of audits. Idk about that but shouldn't be a concern w accurate records and having accurately filed taxes in prior years.