If you’re a total geek, like me, you like to track everything. I keep everything tracked on an Excel spreadsheet. I want to know my average income per delivery, track to see if there are any changes as months go by, mileage, gas and taxes.
You’ll notice I don’t track my hourly rate. The reason I don’t is because I had to get out of the hourly employee mentality. I do this in my spare time so for me, it doesn’t matter what I’m making per hour. I only care about profit and loss.
Here are the stats for March:
Gross income: $1,855
Average fee per delivery: $8.10
Total Mileage: 1,808
Total Gas Expense: $144
Gross Profit (income – gas) = $1,711.
Taxes. Everyone’s tax situation is different, but I’m a full-time employee which means all of my exemptions are used up when filing my 1040. That means all of this income is fair game for the IRS.
The standard mileage deduction for this year is 58 cents. Out of 1,808 miles, that means $1,048 is deductible. That leaves $807 as taxable income and I save 20% of that, or $160.
For the chart, DD is DoorDash and GH is GrubHub.
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