>>486968 It wasn't that. Part of it is that Uber pretends that drivers take
all the money (as in, that we accept payments for rides directly, for the full amount paid) and then
give Uber their cut as a fee. And this is how Uber files
our tax forms with the government so we don't have a choice but to treat it this way ourselves, even though this is the exact opposite of what really happens. So we end up with this massive gross income but lose at least 1/3 of it right off the top.
And since we're forced to file taxes this way, we obviously deduct mileage, which removes roughly 1/2 of what's left. In reality, most of this deduction is pocketed as pure untaxed profit (minus gas and repairs). But on paper, the income is just the part that we get taxed on, which is what's left over after all the deductions.
And they decide loans based on the on-paper income. according to which I am barely getting by below the poverty line and not even making enough to pay my rent plus utilities.
My options are to either 1)
not deduct the money that Uber never even gives me, and
not deduct the mileage, which would more than triple my income
on paper, but make my taxes go up at least 5-fold as well, and force me to pay taxes on money I didn't even receive, 2) try to find a co-signer, 3) keep stacking money and try again later, or 4) give up.
I even pointed out to her, that my current rent is
more than the monthly payment for the houses I'm looking at, and while she understood that, she's restricted in what she can consider income and so it doesn't matter.
This post was edited by its author on .
