Episode 007: David Fox - Ride Sharing Side Gigs

In this episode of The Successful Side Gig I interview David Fox who shares his experiences as an independent contractor with Lyft and Uber. David has a great depth of knowledge and expertise having a masters in accounting and offers a great perspective for people looking to do ride sharing as a side gig. He shares how to get started, as well as, tips on how to maximize your time.   Key Lessons and take aways from this weeks episode:   Lyft and Uber are a great way to make extra cash and also have flexibility! The business has changed a little bit as the companies have grown but still might be a great option depending on your situation Make sure you look into details regarding your car insurance if you participate in ride sharing Driving for Lyft and Uber can be a great way to profit from everyday drives you are already doing and eliminating those everyday costs. You may take the standard mileage deduction on your mileage which is around $.54 a mile Taxes can be handled several different ways when you are driving for a ride sharing company Being empathetic and professional is the best way to give a great experience You can get extra perks for having specific things (ski racks, car wraps, etc.) You may want to invest in seat covers. It is a deductible expense but I have learned that car seats do get dirty with people getting in an out all the time. Don't keep Dorito's for Stoners as an amenity or you will be vacuuming for weeks :)     Quotes:   "You can literally turn the apps on if you want to drive and off if you don't , that was really appealing."   "Your goal is to keep your cost as low as possible."   "You are a 1099 independent contractor not a paid employee, you should engage a tax advisor if you have questions about that."   "Your side gig doesn't have to be an ultra profitable $100 an hour consulting job but you are really just leveraging your costs that you already have and now it's not just a personal expense it is a business asset."     Helpful Links: David's Ride Sharing Links: (If you complete rides he will split his bonus with you)   https://www.lyft.com/drive-with-lyft Promo Code: DAVID17057   https://www.uber.com Invite Code: 27or2     For More info on David you can reach out on Twitter: https://twitter.com/DavidFoxHR   For more episodes please visit www.thesuccessfulsidegig.com   If you have comments or ideas for future episodes please share those below   Please share and subscribe to the podcast if you enjoyed this episode and leave a review.   iTunes: The Successful Side Gig with Adam Hymans   Stitcher: The Successful Side Gig with Adam Hymans