You already trust us with your TLC insurance. Now let us do your taxes.
Thousands of NYC drivers insure with Syed. We know your car, your plates and your base, which makes it easier to claim every deduction you have earned.
What drivers can often deduct
Car costs
Either the IRS standard mileage rate or your actual costs: gas, repairs, depreciation or lease payments. We work out which gives you more.
TLC insurance
Your commercial TLC insurance premium is a business expense.
Plates and licensing
TLC license, vehicle inspections, drug tests and DMV costs connected to driving.
Base and app fees
Fees and commissions the apps or your base take before paying you.
Phone and supplies
The business share of your phone plan, mounts, chargers and water for riders.
Tolls and parking
Business tolls and parking, kept separate from personal trips.
Source: IRS: About Schedule C
Your driver tax paperwork
| Form | From | What it shows |
|---|---|---|
| 1099-K | Uber, Lyft, card processors | Gross payments; starting 2026 sent when you pass $20,000 and 200 transactions |
| 1099-NEC | Apps and bases | Bonuses and other non-employee pay |
| Schedule C | Your return | Your driving income minus your expenses |
| 1040-ES | You | Quarterly estimated tax payments |
Even if you don’t receive a 1099, all driving income is taxable and must be reported.
Sources: IRS: Understanding your Form 1099-K · IRS: About Form 1099-NEC · IRS: About Schedule C · IRS: Estimated tax
Avoid a big bill in April
Drivers don’t have tax withheld, so most need to pay quarterly estimates. We calculate your payments, remind you before each due date, and set aside the right amount when your TLC renewal comes around.
Drivers who own several vehicles or run a base often save by forming an LLC or corporation. See business formation.
Source: IRS: Estimated tax
Tax guides for every kind of driver
Frequently asked
Is my TLC insurance tax deductible?
Yes. Insurance on a vehicle you use to drive for hire is generally a deductible business expense. If you use the standard mileage rate instead of actual costs, insurance is already included in that rate.
I drive for Uber and Lyft. Do I file separately for each?
No. Income from all apps goes on one Schedule C for your driving business.
Sources: IRS: About Schedule C · IRS: Understanding your Form 1099-K · IRS: About Form 1099-NEC · IRS: Estimated tax
Figures and rules on this page come from the official and published sources linked above, as of November 2026. People and numbers in the examples are made up to explain the idea. This page is general information, not tax or legal advice for your situation, and laws change; check the linked source or ask a licensed CPA before you act.
Book your free consultation.
Sit down with a licensed CPA to review your business structure and plan your 2026 and 2027 tax returns.