Am I calculating my taxes right?

You can't take mileage and gas

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Just don't pay that shite.

I haven't paid my taxes in years and I'm still alive.

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This isn't the OT board. Do not listen to this guy.

I assume that because you're picking up a second job delivering pizzas that you are young and just getting started in your career. If not, I apologize. If so, then consider this a lesson: never start bad habits that could cause problems later on. It's easy to lie on your taxes. It's not easy to pay fines and go through an audit.

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I assume that because you're picking up a second job delivering pizzas that you are young and just getting started in your career. If not, I apologize.

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Not just getting started in career. LIve in Chicago (which is expensive) and trying to pay down debt quickly so we can start saving for home. My FT job pays very well, over $100k, but cost of living makes it difficult to save.

Between our rent and daycare for the kid, we're paying $4700/mo before the month even starts.

If you are using a vehicle exclusively for delivery driving, then you would probably benefit from using the actual vehicle expenses rather than the standard mileage rate. In addition to the $135 of gas expense (rounding is okay for tax purposes), you can deduct the costs of insurance, registration and inspections, maintenance and repairs, and allowed depreciation. The allowed depreciation alone might be enough to result in a loss from this business activity. This would reduce your gross income, and your tax liability.

You could claim some expense for a cell phone and/or GPS system if you use them in connection with your delivery driving. You could also purchase a fancy flashlight to assist you in finding addresses at night. Another expense you could claim is any insurance costs directly attributable to commercial use of your vehicle if you decide to use the standard mileage rate.

As a matter of limiting your liability, you should insist on being treated as an employee instead of an independent contractor. Unless you have absolute freedom to choose which deliveries you make and which deliveries you don't make, you are technically an employee instead of an independent contractor. If you persist working as as a non-employee, you might want to consider forming an LLC to limit your liability to the assets you use in the business, i.e. the delivery vehicle and any insurance coverage you have on the vehicle. The expenses associated with the LLC would also be allowable deductions for determining net income from the business.

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I picked up a 2nd job delivering pizzas to pay off some debt faster. I'm a 1099 and have Gross Pay of $1000 (for simple math). I have driven 685 miles (57.5 mileage rate) and have paid $134.54 in gas. Vehicle is used for this second job exclusively. Total for mileage rate and gas is $528.42.

Does this mean that i'll be taxed the 15.3% employment tax rate on the remaining $471.58?

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Poodle provided good info for you on deductions, but you still need some clarity on the taxes portion of you post.

The 15.3% is self employment tax (Social Security and Medicare Taxes) that would be due and payable on the net profits of your 1099 income. However, the Social Security tax is capped at $118K and the Medicare portion is payable on all income. I mentioned the $118K since you indicated that your have W-2 wages in excess of $100k. But, you will still have income tax liability at your top marginal rate. So the answer to your question is no you will not be taxed at a 15.3% rate. You will be taxed at an approximate 28% income tax rate (approximate due to no knowledge of your Schedule A deductions) and the 15.3% for that portion on 1099 net income that is under $118K (included with your W-2 wages) and the the Medicare 2.9% rate for that portion over the $118K (including your W-2 wages.

ETA: you may also want to familiarize yourself with both State and Federal quarterly withholding requirements.

Tell your wife to deliver the pizzas.

Technically it's not delivering pizzas but that is part of it. I got a job at a service called door dash. They not only deliver pizza but any restaurant you want. It's similar to grubhub (or uber for food if you haven't heard of grub hub). I work whenever I want because it's an app based company.

Easier to say deliver pizza.

This is listed on the DoorDash website.

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Is insurance provided?
Yes, we provide commercial auto insurance that covers up to $1,000,000 in bodily injury and/or property damage to third parties arising out of accidents while making a DoorDash delivery.

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I'm assuming this does not apply to me with the wording "third parties". Seems like they would cover the damage to a person/property that I hit or damaged.