Filing uber driver taxes for first time

[Mauricio]

Hi all,

I am a new Uber driver this year, I got my Tax summary for the period 2023 from uber.

I ufile I have added a T2125 Businness

In the interview,  I am at the T2125 - Business identification

Questions:

1. Is 485990  Other Transit and Ground Passenger Transportation the correct North American Industrial Classification System code (NAICS) for uber?

2. When I registered to obtain my GST/HST account, I got a document that I used to enter the following fields in UFileFederal Account Number: OK
Partnership business number : OK

What is the GST registration number of your business? Same as the Partnership business number?

Then on the business Income page, the gross income from uber is added in :

Gross sales, comissions or fess?
OR
Taxi Drivers and drives of other vehicles

 

I am not sure if I am presented with the right for to enter this info,, 

Any feedback will be highly appreciated.

Thanks

[Maggie3]

Hello Mauricio,

1. To confirm the NAICS code of your business, please contact the CRA at 1-800-959-8281. or check the link below:

https://www23.statcan.gc.ca/imdb/p3VD.pl?Function=getVD&TVD=1181553&CVD=1182006&CPV=48599&CST=01012017&CLV=4&MLV=5

2. A goods and services tax (GST) number is a unique identifier issued by the Canadian Revenue Agency (CRA) that identifies businesses registered to collect and remit GST in Canada.  The format for both numbers is 123456789RT1234 (15 characters, no spaces).

For more information on this topic, please refer to the CRA website below: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/registering-your-business/you-need-a-business-number-a-program-account.html

3. Your income from Uber should be added to the line "Gross sales, commission or fees".

[Tea]

On the same topic, does anyone know what else to enter other than gross sales for a first year Uber driver? 

[Geo123]

Hello Tea,

1. On the "Left-side menu of the Interview tab", select "Interview setup".
2. On the screen that appears on the right, go to the "Self-employment" group, check the box "Self-employed business income", also if you paid tax by instalments. Then go to the "Tax paid by instalments and tax transfer" group and check the box "Tax paid by instalments and tax transfer" and click "Next" at the bottom of the page.
3. Return to the "Left-side menu on the Interview tab", click on "Self-employment income" and select the option "T2125 - Business income" on the right-hand side page.
4. On the "Business identification" page, enter the name of your business on the line "Business name (or your own name, if the business does not have one ", then enter the other information in the mandatory fields marked with a red asterisk.
5. On the field for "6-digit code from the North American Industry Classification System", enter the NAICS code that best describes your industry. If you do not know the NAICS code, click on the tool tip (the question mark) (?) on the right-hand side of the box to access a list of NAICS codes.
6. On the line "Products or services and their respective percentage (%) in the total income (mandatory for a Quebec return) ", in the field on the right, enter your main service or product and enter the percentage (%). If you have other products or services, click on the "plus sign +" icon on the right to generate another field.
7. Subsequently, after identifying your company, a submenu will appear on the "Left-side menu of the Interview tab" to allow you to enter the "Income & expenses", "Motor vehicle expenses", "Home office expenses" and so on.
8. On the next page ''Income, expenses'', on the line ''Gross sales, commissions or fees'', you must enter a value, if you have no income, enter $0, 00 as this is a required field. NOTE: for expenses, if your company is registered for GST and HST (QST), these expenses must be entered before taxes to reflect the ITRs (input tax refund) and ITCs (input tax credit) you claimed.
9. If you had partners, choose the subsection "Partners" and if you want to claim capital cost allowance for your office furniture and equipment, choose subsection "CCA" and select on this page the classes that apply to your profession.
10. For residents of Quebec, if you wish to pay your registration fee for Quebec, return to the "Left-side menu on the Interview tab" and choose the option ''Q438 - Quebec annual registration fee for the enterprise register''.
We recommend that you read the T4002 guide published by the CRA, for more information on what qualifies as a business expense.
For more information, please visit the following link:
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4002.html
For Quebec residents, we suggest that you consult the "Business and Professional Income" guide, published by Revenu Québec. You can visit the following link:
https://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/in-155-v/
The program will also generate federal form T2125, as well as Quebec form TP-80 if applicable.
The gross and net amounts will be reported by the program on lines 13499 and 13500 of the federal return and, for Quebec   residents, on lines 12 and 22 of Quebec Schedule L.
 

[Tea]

Thank-you Geo. I've gotten as far as this. I'm wondering what else to enter in terms of numbers using the quick method of accounting with the info provided by uber. I've only made about $1000 and for some reason if I enter values into the amount remitted box as well as the taxes collected box, I end up owing 400 in taxes. It doesn't add up. Not sure how ufile is calculating that

[Geo123]

Hello Tea,

Please contact UFile Support so we may review the file confidentially. Please include above note.
Please open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us

[ElHAM]

Hi, How do we calculate CCA for uber business? 

[Geo123]

Hello ElHAM,

1. On the "Left-side menu of the Interview tab", select "Interview setup".

2. On the screen that appears on the right, go to the "Self-employment" group, check the box "Self-employed business income", also if you paid tax by instalments. Then go to the "Tax paid by instalments and tax transfer" group and check the box "Tax paid by instalments and tax transfer" and click "Next" at the bottom of the page.

3. Return to the "Left-side menu on the Interview tab", click on "Self-employment income" and select the option "T2125 - Business income" on the right-hand side page.

4. On the "Business identification" page, enter the name of your business on the line "Business name (or your own name, if the business does not have one ", then enter the other information in the mandatory fields marked with a red asterisk.

5. On the field for "6-digit code from the North American Industry Classification System", enter the NAICS code that best describes your industry. If you do not know the NAICS code, click on the tool tip (the question mark) (?) on the right-hand side of the box to access a list of NAICS codes.

6. On the line "Products or services and their respective percentage (%) in the total income (mandatory for a Quebec return) ", in the field on the right, enter your main service or product and enter the percentage (%). If you have other products or services, click on the "plus sign +" icon on the right to generate another field.

7. Subsequently, after identifying your company, a submenu will appear on the "Left-side menu of the Interview tab" to allow you to enter the "Income & expenses", "Motor vehicle expenses", "Home office expenses" and so on.

8. On the next page ''Income, expenses'', on the line ''Gross sales, commissions or fees'', you must enter a value, if you have no income, enter $0, 00 as this is a required field. NOTE: for expenses, if your company is registered for GST and HST (QST), these expenses must be entered before taxes to reflect the ITRs (input tax refund) and ITCs (input tax credit) you claimed.

9. If you had partners, choose the subsection "Partners" and if you want to claim capital cost allowance for your office furniture and equipment, choose subsection "CCA" and select on this page the classes that apply to your profession.

10. For residents of Quebec, if you wish to pay your registration fee for Quebec, return to the "Left-side menu on the Interview tab" and choose the option ''Q438 - Quebec annual registration fee for the enterprise register''.

We recommend that you read the T4002 guide published by the CRA, for more information on what qualifies as a business expense.

For more information, please visit the following link:

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4002.html

For Quebec residents, we suggest that you consult the "Business and Professional Income" guide, published by Revenu Québec. You can visit the following link:

https://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/in-155-v/

The program will also generate federal form T2125, as well as Quebec form TP-80 if applicable.

The gross and net amounts will be reported by the program on lines 13499 and 13500 of the federal return and, for Quebec   residents, on lines 12 and 22 of Quebec Schedule L.