Business

How To Make Money Driving For Uber Or Lyft: 4 Steps To Get Started

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Business

How To Make Money Driving For Uber Or Lyft: 4 Steps To Get Started

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Uber and Lyft are two apps which lots of people turn to when they want a consistent, flexible way to earn a living that still leaves them in charge of their own professional destinies.

If you want to start making money from either or both of these services, there are a few steps to take and a few considerations to keep in mind before you take the leap into the gig economy.

Check the basic requirements to ensure you are eligible

First of all, you need to know that you are actually able to apply to harness either of these apps, and there are some differences in the requirements between the two.

For Uber, that means having a valid driver’s license which you have held for at least a year, having a residence in the state where you intend to work, and having car insurance.

For Lyft, the requirements are largely the same, save for not needing to prove that you are a resident in the specific region itself.

Both service operators also have screening processes for new drivers, with Uber looking into your driving history, and Lyft explicitly stating that it will check for any criminal record as well. So long as you do not have any serious offenses on your file, you should be able to get approval.

Lastly, there’s the question of the vehicle. Uber requires drivers to get their vehicle inspected before approval is granted, and while Lyft does not implement this type of check-up, it does blacklist vehicles which are already working as taxis.

Make sure you’re deducting appropriate expenses from your taxes

Once you are up and running with these apps, it’s important to check Uber driver tax deductions that apply in your area.

You can write off a lot of business expenses that you accrue in the line of duty, including the costs of cleaning and maintaining your vehicle, as well as providing treats and benefits for passengers to enjoy, such as beverages and snacks.

If you aren’t deducting these expenses when you file your taxes, you could be missing out on major savings.

Using modern expense tracking software, and even hiring an accountant to file your returns for you, is another sensible step, particularly if using ride sharing apps is your primary source of income.

Do your research

You can maximize the amount you make from Uber or Lyft by conducting a little research into the peak periods for demand that are present in your area.

Uber in particular has surge pricing which means that drivers can make a pretty penny when there is a lot of call for their services in a given geographic area.

Likewise there is money to be made on Lyft if you are willing to collect rides from a specific location, and a whole host of other bonuses and incentives that you need to know about in order to leverage.

Serve customers effectively

Because of the way driver rankings work, you need to not only be punctual and well-presented, but also a dab hand at other aspects of customer service.

Friendliness goes a long way in this context, although it’s important to be able to sense the mood of each user and aim to give them what they want, whether that’s flowing conversation, a bit of peace and quiet, or something in between.

Maintaining a good rating is key to keeping the jobs flowing in, so unless you are committed to good customer service, you might miss out on the earnings potential that is represented by Uber and Lyft.

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How To Make Money Driving For Uber Or Lyft: 4 Steps To Get Started

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