> With Tax time upon us, I was wondering, do any of you use any software
> to keep track of your cash, mileage, and so forth?
> Or do you have another method?
>
> Thanks,
> Rob

> Rob wrote:
>> With Tax time upon us, I was wondering, do any of you use any software to
>> keep track of your cash, mileage, and so forth?
>> Or do you have another method?
>> Thanks,
>> Rob
>
> As a driver, all I do is report the income on the T4 slips provided by my
> owners, then add 15% for tips (thats a Canadian tax rule - probably doesnt
> apply elsewhere). No need for mileage, cash or whatever.
>
> It would be problematic if I reported income different from that listed on
> the T4 slips - the tax department would want to know where it came from,
> and why it hadnt been reported on the T4.
>
> I dont make deductions based on 'employment' expenses.
>
> Owners, are an entirely different situation. They have to report gross
> income, and then rebate a portion of that as GST (goods and services tax -
> sort of like Englands VAT - or sale taxes in the US). Then they also get
> to list expenses, such as gas, maintainance, licensing, office rent,
> insurance and so forth. Most owners use a CPA to do that for them. They
> also have deductions for what they pay drivers (including 'occasional
> workers) and so forth.

> i keep my gas receipts for deductions and food receipts.
> "Dan" wrote in message
> news:BhsWf.39364$bn3.26088@bgtnsc04-news.ops.worldnet.att.net...
>> Rob wrote:
>>> With Tax time upon us, I was wondering, do any of you use any software to
>>> keep track of your cash, mileage, and so forth?
>>> Or do you have another method?
>>> Thanks,
>>> Rob
>> As a driver, all I do is report the income on the T4 slips provided by my
>> owners, then add 15% for tips (thats a Canadian tax rule - probably doesnt
>> apply elsewhere). No need for mileage, cash or whatever.
>>
>> It would be problematic if I reported income different from that listed on
>> the T4 slips - the tax department would want to know where it came from,
>> and why it hadnt been reported on the T4.
>>
>> I dont make deductions based on 'employment' expenses.
>>
>> Owners, are an entirely different situation. They have to report gross
>> income, and then rebate a portion of that as GST (goods and services tax -
>> sort of like Englands VAT - or sale taxes in the US). Then they also get
>> to list expenses, such as gas, maintainance, licensing, office rent,
>> insurance and so forth. Most owners use a CPA to do that for them. They
>> also have deductions for what they pay drivers (including 'occasional
>> workers) and so forth.
>
>

> Wouldnt apply to me, the owner pays the gas, I dont.
> I get 40% of the meter, plus tips. Everything is paid for by the owner,
> gas, insurance, office rent, car washes, you name it. Heck, with my
> owners, if I figure the car could use a new 'doodad' like a new steering
> wheel cover, I purchase it, install it, and bill them for it. I spent
> money to 'repair' the lighter socket on one car for example, billed the
> owner for the parts, no questions asked. Why did I want the lighter? To
> run my GPS If I want a new or better coffee cup holder - they pay for
> the part for example. My labour is free in those cases, just like it is in
> the case of a flat tire. I change it and dont get any 'more' because I did
> (well except that I can go back to work and get more fares of course).
>
> David Casselman wrote:
>> i keep my gas receipts for deductions and food receipts.
>> "Dan" wrote in message
>> news:BhsWf.39364$bn3.26088@bgtnsc04-news.ops.worldnet.att.net...
>>> Rob wrote:
>>>> With Tax time upon us, I was wondering, do any of you use any software
>>>> to keep track of your cash, mileage, and so forth?
>>>> Or do you have another method?
>>>> Thanks,
>>>> Rob
>>> As a driver, all I do is report the income on the T4 slips provided by
>>> my owners, then add 15% for tips (thats a Canadian tax rule - probably
>>> doesnt apply elsewhere). No need for mileage, cash or whatever.
>>>
>>> It would be problematic if I reported income different from that listed
>>> on the T4 slips - the tax department would want to know where it came
>>> from, and why it hadnt been reported on the T4.
>>>
>>> I dont make deductions based on 'employment' expenses.
>>>
>>> Owners, are an entirely different situation. They have to report gross
>>> income, and then rebate a portion of that as GST (goods and services
>>> tax - sort of like Englands VAT - or sale taxes in the US). Then they
>>> also get to list expenses, such as gas, maintainance, licensing, office
>>> rent, insurance and so forth. Most owners use a CPA to do that for them.
>>> They also have deductions for what they pay drivers (including
>>> 'occasional workers) and so forth.
>>

> so where do you work? Think i mite need to move. We do get paid for small
> things we buy oil. we pay for all the gas and split the fares with the
> company. plus we do charge accounts. it's hard to explain but basically
> drivers here are getting jipped. but it's what i love doing so i guess
> thast why im still here
> "Dan" wrote in message
> news:wpIWf.41986$bn3.8923@bgtnsc04-news.ops.worldnet.att.net...
>> Wouldnt apply to me, the owner pays the gas, I dont.
>> I get 40% of the meter, plus tips. Everything is paid for by the owner,
>> gas, insurance, office rent, car washes, you name it. Heck, with my
>> owners, if I figure the car could use a new 'doodad' like a new steering
>> wheel cover, I purchase it, install it, and bill them for it. I spent
>> money to 'repair' the lighter socket on one car for example, billed the
>> owner for the parts, no questions asked. Why did I want the lighter? To
>> run my GPS If I want a new or better coffee cup holder - they pay for
>> the part for example. My labour is free in those cases, just like it is in
>> the case of a flat tire. I change it and dont get any 'more' because I did
>> (well except that I can go back to work and get more fares of course).

> Guelph Ontario.
>
> both cab companies here, Canadian Cab and Red Top operate on the same
> driver/owner split.
> basically, the owner pays everything, and the driver gets to take home 40%
> of whats on the meter (plus tips of course).
> All expenses, gas, oil, etc, come out of the owners share.
>
> For example: Lets say I do a shift and end up with $250.00 showing on the
> meter.
> First, I deduct 'my share' from the total $100
> Then I deduct any 'charges' from the total (the owner will get the money
> from these) say $50
> Then I deduct the cost of gas I put in (and paid for) $40.00
> Then I deduct incremental items (car wash for example) $5.00
>
> Whatever is left over is the owners 'share' for the night, in the above
> case, a whopping $55.00 cash
>
> There are cases where the owner ends up owing me money, especially if
> there are a lot of charges involved. I usually list the money as a debt
> and take it out of the next shifts earnings.
>
> There are other 'systems' both with pros and cons. Imho, the system we use
> here is fair to both owners and drivers - given the average business in
> this region.
>
> The average shift is 10 to 12 hours (you can take coffee breaks and meal
> breaks anytime you want tho). An 'average' shift would be about $250
> (meter total) tho, depending upon circumstances that can vary between $150
> to $600. Weekend nights are usually the most lucrative, holidays can be
> phenomenal.
>
> David Casselman wrote:
>> so where do you work? Think i mite need to move. We do get paid for
>> small things we buy oil. we pay for all the gas and split the fares with
>> the company. plus we do charge accounts. it's hard to explain but
>> basically drivers here are getting jipped. but it's what i love doing so
>> i guess thast why im still here
>> "Dan" wrote in message
>> news:wpIWf.41986$bn3.8923@bgtnsc04-news.ops.worldnet.att.net...
>>> Wouldnt apply to me, the owner pays the gas, I dont.
>>> I get 40% of the meter, plus tips. Everything is paid for by the owner,
>>> gas, insurance, office rent, car washes, you name it. Heck, with my
>>> owners, if I figure the car could use a new 'doodad' like a new steering
>>> wheel cover, I purchase it, install it, and bill them for it. I spent
>>> money to 'repair' the lighter socket on one car for example, billed the
>>> owner for the parts, no questions asked. Why did I want the lighter? To
>>> run my GPS If I want a new or better coffee cup holder - they pay
>>> for the part for example. My labour is free in those cases, just like it
>>> is in the case of a flat tire. I change it and dont get any 'more'
>>> because I did (well except that I can go back to work and get more fares
>>> of course).