Uber & Lyft Expenses: The Hidden Costs Every Gig Worker Needs to Understand

If you've ever looked at your Uber or Lyft earnings and thought, "I'm making great money," you might be missing part of the picture.

One of the biggest mistakes new gig workers make is confusing revenue with profit.

Just because Uber deposits $1,500 into your account this week doesn't mean you earned $1,500. As an independent contractor, you're responsible for paying every expense associated with operating your business.

Understanding these costs isn't just important for managing your finances—it can determine whether you're actually making money or slowly wearing out your vehicle while thinking you're profitable.

This article is the first in a series covering the financial side of gig work, including expenses, taxes, depreciation, mileage deductions, record keeping, and strategies to maximize your earnings.