| mav1178 |
05-19-2015 03:15 PM |
As an actual Uber driver, here's what I have to say about it:
Pros: - 1099'd as individual contractor. You write off whatever you want, you can not pay a single dime in tax if you don't want to.
- Work whenever you want. 8AM, 8PM, any day.
- Great side gig or 2nd job without having to worry about being tied to a desk or a physical location.
- Paid every week based on previous week's fares.
- Great way to network with others in the area, if you are of the sociable type.
- Busy days like Fri/Sat can net $3-500+ in a day's work.
Cons: - It's a taxi service.
- It's a taxi service.
- It's a taxi service.
- You deal with all sorts of people, good and bad. About 80% are normal folks, 20% are the weird or drunk people.
- If you don't like traffic or don't like to interact with others, this is not the job for you.
- You will put miles on your car, whether it's new or used.
Having said all that, I wish I did this earlier. So far my plan is to spend 25% of my income, save 25% of it in stocks, use 25% to pay off outstanding debt such as my car payments, and remaining 25% is saved to cover the taxes and operating expenses.
If you do it right, 2-3 nights a week can net an extra $10-20k per year.
-alex |
