{"id":463,"date":"2015-07-04T14:27:12","date_gmt":"2015-07-04T18:27:12","guid":{"rendered":"http:\/\/blog.etax.com\/?p=463"},"modified":"2015-06-30T14:28:26","modified_gmt":"2015-06-30T18:28:26","slug":"driver","status":"publish","type":"post","link":"https:\/\/www.etax.com\/blog\/2015\/07\/04\/driver\/","title":{"rendered":"Driver"},"content":{"rendered":"

If you drive a vehicle for work, whether a bus, truck, or taxi, you can expect to receive a Form W-2 Wage and Tax statement which documents your income and withholdings from your employer. If the option for \u2018Statutory Employee\u201d is checked in Box 13, you\u2019ll need to file a Schedule C, Profit and Loss from Business, and report the income. You are considered a statutory employee if you work for an agency or on commission.<\/p>\n

Self-employed drivers must also report their income on a Schedule C. Instead of a Form W-2, you can expect to receive a Form 1099-MISC, Miscellaneous Income. Tips<\/a> are considered table income, and must be reported. If you make over $400, you have to pay self-employment tax, and may be required to make estimated tax payments<\/a> to cover the amount you reported on Schedule C.<\/p>\n

In order to reduce your tax liability, you should deduct unreimbursed expenses you incurred that relate to your job. If you work for a company as an employee, you can claim expenses as a miscellaneous Itemized Deduction<\/a>. Self-employed drivers may be able to deduct expenses on a Schedule C. Like all credits, you should keep receipts to back up your deductions.<\/p>\n

You can deduct costs associated with:<\/p>\n