Companion to "What an hour actually nets" and "The 1099 reality: taxes on bridge income."
Fill one column per representative hour. Run both car-cost ledgers: the marginal ledger is cash flow this month, the full-ownership ledger is wealth draining quietly. Redo this any Sunday in five minutes.
Gross hour: $23.33, Uber 2024 average (Gridwise trip data, engaged hour). Miles: 16, a mixed city hour. Full-ownership car cost: IRS standard mileage rate 76¢/mile for the second half of 2026 (72.5¢ first half). Marginal car cost: about 20¢/mile (fuel about 11¢ at 30 mpg on $3.30 gas, plus about 10¢ maintenance, tires, oil). Self-employment tax computed on 92.35% of net profit at 15.3%. Federal income tax shown at a 12% bracket, trimmed slightly by the qualified business income deduction. State income tax extra.
| Line | Full-ownership ledger | Marginal ledger |
|---|---|---|
| Gross hour (Uber avg, Gridwise 2024) | $23.33 | $23.33 |
| Car cost, 16 miles | $12.16 at 76¢/mi | $3.20 at ~20¢/mi |
| Net profit | $11.17 | $20.13 |
| Self-employment tax | about $1.58 | about $2.84 |
| Federal income tax (12% bracket) | about $1.30 | about $2.30 |
| What lands | about $8–9 | about $14–15 |
Delivery check: run the same math on DoorDash's $12.23 average gross hour before making delivery a main plank. At 76 cents a mile, a delivery hour can eat its own pay. All reported platform figures are gross, before expenses and before self-employment tax.
| Line | Your hour, full-ownership | Your hour, marginal |
|---|---|---|
| Platform / date | ||
| Gross for the hour (app screen) | $ | $ |
| Miles driven in the hour | ||
| Rate used (76¢ std. mileage 2nd half 2026 / 72.5¢ 1st half / actual ~20¢) | ¢/mi | ¢/mi |
| Car cost (miles × rate) | $ | $ |
| Net profit (gross − car) | $ | $ |
| Self-employment tax (net profit × 0.9235 × 15.3%) | $ | $ |
| Federal income tax (your bracket %: ) | $ | $ |
| State income tax (if any) | $ | $ |
| What lands | $ | $ |
| Set-aside rate (25–30% of every payout; 20–25% in a no-income-tax state) | % |
| Savings account for set-asides (separate from checking) | |
| Next quarterly payment date (April / June / September / January) |
Safe harbor that stops penalties: pay at least 90% of this year's tax or 100% of last year's, 110% if your income was over $150,000. Mileage deduction and actual expenses cannot both be taken; pick one. 1099-NEC threshold is $2,000 for tax year 2026; 1099-K is $20,000 and 200 transactions. Taxable income is taxable with or without a form.
| Week of | ||||
|---|---|---|---|---|
| Hours worked | ||||
| Gross | $ | $ | $ | $ |
| Miles | ||||
| Car cost (ownership / marginal) | $ | $ | $ | $ |
| Net after car | $ | $ | $ | $ |
| Set-aside moved (same day as payout) | $ | $ | $ | $ |
| Net hourly (what lands ÷ hours) | $ | $ | $ | $ |