Guide: How to Get Your 1099 Form from Postmates
Companion couriers are not ordinary employees. They have an independent contractor and as such, they have slightly different tax returns. Rather than deducting taxes from their employees’ wages, postmen leave that to the employees themselves. This means that if you work for Postmates, you will need to keep track of your own taxes. But do not worry. You can deduct a lot through your work, effectively lowering your taxes. As you may already know, this requires a 1099-MISC form. Postmates will send you this form if you’ve made more than $ 600 a year. Read on for more details.
How to Get 1099 from Postmates
Getting the form is the easy part. As we said, Postmates will send a physical form to your home address if your earnings are greater than $ 600. This form will help you calculate your annual income, so be sure to have it ready when you file your tax return. But what about people who don’t make $ 600 or more a year from Postmates? If you fall into this category, things are a bit more complicated. You still need to report your earnings to the IRS, including those you made at Postmates. In that case, you must keep track of your income. You can do that if you follow the weekly payment statements that you always get from Postmates. Although this can be difficult if you regularly work, with long breaks. The Postmates official support site recommends using the Stride mobile app for your taxes. It is free and available for Android and iOS devices. Download it from the links provided and start using it today. Working for Postmates makes life much easier. The app also helps you with your taxes, gives clear instructions and explains everything about 1099.
1099 Basics
The Form 1099-MISC for Independent Contractors shows how much they have earned through an employer; in this case, Postmates. You are eligible for this form if the company does not employ you and works independently. There are many 1099 forms, but we are only interested in 1099-MISC because that’s the one you need. Sometimes, companies will issue this form even if their contractors haven’t earned $ 600 or more. But don’t trust this to happen, as it is not a legal requirement. If you are wondering when you will receive the 1099 document from Postmates, the answer is February. Postmates must complete the forms by the end of January and postmark them (no pun intended!). That’s why you should get the 1099 at the beginning of the next month.
What costs does 1099 cover?
You can deduct a lot of expenses from your taxes if you work for Postmates. The most prominent depreciation is, of course, the mileage. Note that you cannot claim for both gas and mileage. Better to calculate just the mileage deduction (which is 57.5 cents per mile this year). The kilometer deduction takes into account the price of gas and for maintenance, insurance, and depreciation of vehicles. But you can only write off the miles when you worked for Postmates. You can’t use your commuting hours, and other times you used your vehicle as an excuse. The official mileage that can be deducted includes the ride to your first delivery of the day, the ride between each delivery, and the ride home from your last delivery.
Other deductibles
Other deductibles are the accessories you use for your work as a delivery person. You use the blankets or hot bags to prevent food from getting cold. The courier bags are also included, for example the pizza bag. However, you cannot use these accessories for personal use, so keep that in mind. In addition, any parking fees or tolls will be deducted from your taxes during the delivery of your Postmates. However, you cannot deduct fees for tickets or other traffic violations. These are consequences of irresponsible driving and cannot be excused or reimbursed. You can deduct the costs of breakdown assistance during your working hours. The same applies to business permits applied for by your country or municipality for the employment of your postmates. The cost of health insurance is also covered, but these are trickier, so you need to explore the matter in more detail. You can use the official Stride website or the app for all additional information and instructions on how to file your Postmates taxes.
Final Thoughts
Postmates is a reputable company that cares about its drivers. If you are a mailmate yourself, this article should provide enough information about the 1099 form and how to do you understand it. However, you can check the Postmates official support website for more information. Are you filing your tax return or have you hired an accountant to do it for you? Did you receive 1099 from Postmates? Remember, you can use the Postmates app deposit information if you don’t have the physical form. Share your experiences in the comments below.
How to Get Your 1099 Form from Postmates: benefits
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Final note
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