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However, it is extremely important to ensure you can prove economic hardship. In the checklist, it’s recommended to open a new bank account with Ally Bank (this is optional). Ensure you have all documentation gathered and ready. However, once your initial loan application is received, the lender will contact you and request all of the documentation outlined in the checklist. Please note: you will not be including documentation in the first submission application. Simply add those numbers to the payroll report I’ve created for you and gather your other 1099’s because you will need all of them eventually. Please note: if you have 1099’s from multiple companies, you must add ALL of them up together – this is not just about the income you receive from one company, but from ALL self-employment income.
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Note that you do not need your whole tax return for the PPP, JUST the 1040-C portion.īoth of these are free e tax filing companies: You can get the 1040-C for the PPP application.
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Both are completely legitimate and walk you through the process of filing, e-file for you, and generate PDF documents for your records. There are 2 sites for filing taxes below.
If you have not yet filed taxes for 2019, still apply to the loan asap and then set some time aside this weekend and to file your taxes so you have all the documentation in order. However, you will need to provide your own 1040-C which is contained as part of your 2019 taxes. The step by step instructions can be found below. The process to apply essentially amounts to providing documentation of your monthly income, 1099’s from 2019, and your IRS Form 1040-C (Schedule C). don’t go out and buy a new car or a new computer or something like that unless you really need it. However, you must be able to prove economic hardship. If your income has been impacted by COVID-19, which it has – then you will not have to repay the loan! You must be able to prove economic hardship as part of the loan forgiveness program. Applying is quite easy if you have all of your materials together, and I’ve created a checklist of things to do to make this as easy as possible. The applications are now open to self-employed contractors, as of. The PPP (Paycheck Protection Program) is part of the large government stimulus bill that was passed last week.
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Filing for unemployment as a gig or self-employed worker? It’s complicated Step by Step how to apply for the PPP as a rideshare driver
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NOTE: If you were unable to take advantage of the PPP and have filed for unemployment, please read this article from CNBC on how to ensure you can get access to the unemployment for drivers of Uber, Lyft, and other rideshare services. Follow these directions from the Chamber of Commerce to fight for your portion of the PPP.
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Below is a list of each article in the Uber Driver Training Guide or you can download the free PDF version here.NOTE: As of April 17th all the PPP funds have been exhausted. If you want to take your time going through this Uber Driver Training Guide, bookmark this page and refer back to it as you go through each article. This guide is all about maximizing the opportunity out there and helping new drivers take advantage of everything rideshare driving has to offer. But if you expect to just flip on the app and make a ton of money, that is not going to happen.
I truly believe that there is still a ton of opportunity for those who are willing to work for it and ready to invest in themselves and their career. This Uber Driver Training Guide will help you excel as a driver, whether you decide to drive for Uber, Lyft or any new rideshare company you choose ( Juno, anyone?) Even though the driver market is getting saturated, that also presents a unique opportunity for the best drivers to really stand out. Just like me, they value the pay, the flexibility and the interactions with passengers. There are literally tens of thousands of new drivers signing up every month and for good reason. This guide is geared towards new drivers but you’ll also get my recommendations on the best times to drive to maximize the amount of money you make – working smarter, not harder.Įverything New Drivers Need to Know About Driving for Uber What insurance requirements are there to be a driver?.What kind of vehicle and driver requirements are there?.How can you get the highest sign-up bonus possible?.Do drivers actually earn money doing this job?.In the guide, we’ll answer the following questions