![]() ![]() I don't think you will be working your own hours, not many limos drive around after midnight, mostly cabs. Yeah a laid back job that could get you 50K a year would be more appealing to Americans than any hard-working Habibs. But then again who's to know how much a cab driver takes in when you can't monitor these things, unless all your driving is via a dispatched call, not driving around the city to pick people up. It would be better that way so you don't pay upfront money, just half of what you take in. If you can't make money in driving a cab, the taxi bureau would stop these companies from hiring when business is slow don't you think? Otherwise you'd be paying upfront money to rent the cab ($350-$450 weekly), which is a rip off. The work your own hours, be your own boss is the thing that appeals to me. Depends how many people flags you for a ride. This is usually 12 hour work days I think. I've spoken with several taxi cab drivers, complete strangers they say you can make $1000-1500 a week. upfront money like $350-$450 a week! You do the math. yet the companies asked you to pay upfront money (to rent the cab which includes insurance, maintenance, everything else, you only pay for gas and the cab rent!). At the very least, their job is safer - driving a taxi is very dangerous. If you want to be a driver, I think livery drivers (limo drivers, hired cars, etc) probably make more money. While I think most taxi drivers earn more than the $16,000/year that would work out to, I also think if it was actually common to earn $50/k year, you'd have a lot more American drivers. A recent University of Chicago study reported that cab drivers were working 13 hour days and only pocketing the equivalent of $4.38/hour for their efforts. says Chicago cab drivers earn about $34k/year. The union claims many drivers don't earn much more than $1,000/month. ![]() If you want to become a self-employed taxi driver, take a test to prove you can do the job, invest in a good vehicle, and learn to manage your finances and your taxes.I've never seen anything claiming that cab drivers in Chicago earn $1,000/week. Take as a self-employed taxi driver, as you strive to find an affordableĪccountant and comply with the financial demands placed on you by law. Within the boundaries of the law and all real-time tax legislation.Īrguably, this should be one of the first steps that you Reduce the amount payable to the tax authorities during each financial year, This type of expert resource can also take steps to help you You can even get access to a tax CPA online from New York City or wherever you live so that you don’t have to leave your own home. To this end, there are plenty of accountants well-placed to help you calculate your repayments and meet key submission deadlines. If you’re new to the world of self-employment, you may need some assistance to help you achieve these goals. More specifically, you’ll now be responsible for managing your taxes and paying the requisite amount to the tax authorities every year. Manage Your Taxes as a Self-Employed Taxi DriverĪs a self-employed taxi driver, it’s imperative that you recognize your shift in status. ![]()
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