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Are you worried about how to handle your Lyft taxes?
Reporting your income as a Lyft driver might seem intimidating.
If you’ve never worked as an independent contractor before, don’t worry.
Filing your Lyft taxes isn’t as difficult as it might seem.
In this article, you’ll learn everything you need to know about reporting income.
You’ll also learn what’s involved in paying Lyft taxes on that income.
You need to understand three key concepts about paying taxes as a Lyft driver:
- You’re responsible for sending tax payments to your state and the IRS
- Your work as a Lyft driver classifies you as an independent contractor
- You must file a tax return so you report an income figure that matches what Lyft tells the IRS it paid you
Let’s explore these concepts in more detail.
Do You Pay Taxes on Lyft Income?