Mar 14, 2017

Uber's tech could make taxes easier for drivers

Pictures of Money / Flickr Creative Commons

With tax deadlines fast approaching, Uber is using its technology to partner with providers of tax tools for contractors. Via Uber's application program interface (API), a software tool that lets outside developers plug into Uber's system, Intuit, H&R Block, Stride and Credit Karma can more easily help drivers calculate and file their taxes.

Pain point: In a recent survey of "gig economy" workers, Intuit found that nearly one in five (18%) said their top challenge with on-demand work was "understanding tax and legal obligations," the company told Axios.

Tax help: At the same time, tracking expenses can help independent contractors save a lot of money. Since releasing an app that helps ride-hailing drivers track their mileage and other expenses in late August, the startup says drivers have logged more than $60 million in deductions. What's more, the company says that tracking those deductions has translated into an effective tax rate of 8.7% for drivers—much lower than the 30% that's recommended for contractors to set aside for taxes.

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In photos: India welcomes president with massive "Namaste Trump" rally

First Lady Melania Trump, President Trump and India's Prime Minister Narendra Modi attend the "Namaste Trump" rally at Sardar Patel Stadium in Motera, on the outskirts of Ahmedabad, on Monday. Photo: Mandel Ngan/AFP via Getty Images

President Trump told a massive crowd at a rally in Ahmedabad, northwest India, Monday he hopes to reach a trade deal with his ""true friend" Prime Minister Narendra Modi during his two-day visit to the country "except he's a very tough negotiator."

Why it matters: The countries are forging deeper ties, particularly in the military dimension, as India’s location, size and economic growth making it the "obvious counterweight to China" for American policymakers, per Axios' Dave Lawler and Zachary Basu. Prime Minister Narendra Modi demonstrated the importance of the visit with a "Namaste Trump Rally" at a packed 110,000-capacity Sardar Patel Stadium in Ahmedabad — the world's largest cricket venue.

Go deeperArrowUpdated 9 mins ago - World

Coronavirus spreads to more countries as cases in South Korea surge

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

Afghanistan, Kuwait and Bahrain each reported their first cases of the novel coronavirus, Al Jazeera first reported, as infections in South Korea, Italy and mainland China continued to increase on Monday.

The big picture: As South Korea and Italy stepped up emergency measures in efforts to thwart the spread of the virus, World Health Organization officials expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,619 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 22 mins ago - Health

Sanders reveals free childcare plan for preschoolers

Democratic presidential candidate Sen. Bernie Sanders speaks during a campaign rally on Saturday in El Paso, Texas. Photo: Cengiz Yar/Getty Images

Democratic presidential candidate Sen. Bernie Sanders announced on CBS' "60 Minutes" Sunday a new plan to guarantee free child care and pre-kindergarten to all American children from infancy to age four.

Details: In the wide-ranging interview, Sanders told Anderson Cooper he planned to pay for universal childcare with a wealth tax. "It's taxes on billionaires," he said.

Go deeperArrowUpdated 6 hours ago - Politics & Policy