Uber Driving as A Side Hustle
Are you looking for ways to earn some extra money? Do you enjoy driving and meeting new people? If you answered yes, Uber driving is for you. When Uber came to the scene a few years ago, no one anticipated it to be the largest ridesharing service around, making it convenient not only for riders to find a way around town but for drivers to monetize on their driving as well.
Driving for Uber has proven beneficial to me in many ways. From increased earnings to job flexibility, there is much to be said about being an Uber driver. Here are a few ways, driving for Uber has proven beneficial:
1) Added income
I average about $1000 or more monthly from driving for Uber. This increase in income provides financial well-being and little extra savings per month. Bonus if you love driving and exploring your town, Uber is a great way to make some money while doing what you already love.
Driving for Uber is an extremely flexible job to have. I can turn on the app when I am ready to drive and turn it off when I am not taking riders. It’s that simple. I am my own boss and my car is my office. I decide my own schedule and can drive as much or as little as I want.
3) Tax Break
As an Uber driver, you are self-employed. Self-employed individuals report their income as business income on Schedule C of Form 1040. Like any business income, you can deduct business expenses. As an Uber driver, your expenses will be gas, mileage, car insurance and the depreciation on your vehicle (if it is owned). Usually, if you are exceeding your expenses more than what you bring in and have a full-time job or other sources of income, you can take the loss against this income – giving you a tax break!
4) Opportunity to network
As a driver, you get the opportunity to meet a diverse number of people. You may have interesting conversations with your fellow riders which could allow you to grow your network. If you have another business, this would be a good way to share about your business and potentially bring in customers.
Signing up as an Uber driver is simple as well. You fill out an application online and the process is straightforward. You may have to take your car for inspection depending on its year and make but overall, the process is smooth sailing. I thoroughly enjoy driving for Uber. With the extra income and added flexibility, it’s as good as it gets!