The expense tracker built for gig drivers

For most rideshare drivers, the standard mileage deduction (70 cents per business mile in 2025) wins. You can't switch methods later if you start with actual expenses on a vehicle, so pick carefully. Standard mileage covers fuel, oil, maintenance, repairs, depreciation, registration, and insurance in one per-mile rate. Actual expenses requires logging every gas receipt, oil change, tire, insurance premium, and a depreciation schedule — much more work, and only wins if your car is expensive to operate (luxury, hybrid that gets fewer miles, or a leased vehicle). A 2024 Bureau of Labor Statistics survey of rideshare drivers showed median 28,000 business miles per year — at 70 cents that's $19,600 in deductions. Cash Compass tracks both the mileage values and the actual receipts in case you ever need to substantiate.

Cash Compass doesn't auto-track GPS — it doesn't request always-on location. Pair it with a dedicated mileage app (MileIQ, Stride, Gridwise, or Hurdlr) for the actual GPS log, then enter weekly business-mile totals into Cash Compass as a Mileage: Rideshare expense. The IRS requires a contemporaneous log — date, start/end miles, business purpose — which the mileage app handles. Cash Compass handles the cashflow side: what each shift actually netted after fuel and direct costs. The 2024 Gridwise driver-data report showed average shift earnings of $24.50/hour gross but only $14.10/hour net after fuel, maintenance, and depreciation — knowing the gap shift by shift is the difference between guessing and running a business.

Beyond mileage (or actual vehicle expenses): a portion of your phone bill used for driving (typically 50-80%), car washes, snacks/water for passengers if you provide them, parking and tolls during shifts, dashcam, phone mount, charging cables, music subscription used for the car, and a percentage of your home internet if you do significant rideshare-related admin from home. Uber's commission and platform fees are already netted out of your 1099, so don't double-count. Health insurance premiums may be partially deductible if you're not eligible for a spouse's plan. Tag each category in Cash Compass; year-end CSV export goes to your tax prep. The 2024 IRS Schedule C statistics showed rideshare drivers averaged $5,400-$7,200 in non-mileage business expenses on top of the per-mile deduction.

If you earned over $400 in rideshare income, the IRS expects you to file Schedule C and self-employment tax. Below $20,000 in gross rideshare income, you may not get a 1099-K from Uber under the 2024 threshold rules (which keep shifting), but you still owe taxes on the income — the IRS gets reports from Uber regardless. Tracking expenses is mostly about how much tax you pay, not whether you file. A part-time driver clearing $12,000 gross with 16,000 business miles deducts $11,200 in mileage alone, dropping taxable income to $800 before other deductions. That's the difference between owing $1,800 in self-employment tax (15.3% on $12,000) and owing $122. Cash Compass plus a mileage app takes about 10 minutes a week to maintain.