Below are the 2 most recent journal entries recorded in silasashleys615's InsaneJournal:

Wednesday, July 27th, 2011
11:16 am	crazy taxi games These taxi driver notes in preparing the taxi driver accounts and completing the self assessment tax return are to assist that process. Mileage Allowances Taxi drivers can claim as an alternative to vehicle running costs mileage allowances of 40p for the first 10,000 miles and 25p per mile thereafter. You may not claim mileage allowance and vehicle running costs. Should you choose to claim the mileage allowance then keep good records of mileage covered, purpose of journey. Taxi Capital Allowances If you bought a vehicle in the financial year 2007-08 and used the vehicle as a taxi you can claim a first year writing down tax allowance of 25% of the cost of the taxi, restricted to 3,000 pounds for vehicles costing over 12,000 pounds. On vehicles purchased in previous tax years you can claim 25% writing down allowance on the balance not yet claimed. Many taxis are bought and sold each year and where a taxi is sold the capital tax allowance that can be claimed is the difference between the written down value for tax purposes and the amount of sale proceeds. First year allowance on non vehicle assets in the current tax year 2007-08 is 50% for small businesses. Taxis bought on Hire Purchase Claim capital allowances on the original cost of the vehicle, interest and other charges count as business expenses and go in the self assessment tax return box 3.61 Other Finance Charges Taxi Running Costs When completing the self assessment tax return taxi drivers should enter fuel costs in box 3.46 cost of sales not motoring expenses. A standard check carried out by any competent inland revenue inspector enquiring into a self assessment tax return would be to check when the taxi driver was on holiday and examine if fuel receipts had been included for this period. Not many tax returns are enquired into as the system is based upon trust but taxi drivers should ensure their accounts do not contain this fundamental tax fiddle. Taxi running costs also include repairs, servicing and parts including tyres, road tax, taxi insurance and AA/RAC membership. Include radio hire and taxi office costs in general administrative expenses. Household expenses If you run your taxi business from home you can claim a proportion of household expenses as business expenses in the taxi accounts. Household expenses are likely to be disallowed unless they are either specific to the business or a specific area of your home is devoted entirely to your taxi business. Using part of a room part time would not be sufficient to include the household expenses in the taxi driver accounts. Spouse Costs You can claim expenses for partners who work for your taxi business and payments up to 100 pounds per week would not attract income tax or national insurance however any payments claimed in the taxi driver accounts must be real payments for real work done. The Revenue naturally adopt a strict view on taxi expenses claimed for partner work as it is an area some people might use to reduce the tax liability. Care is required to justify the partner as an expense. Other Expenses Enter all business expenses in a named expense box on the self assessment tax return. crazy taxi games, crazy taxi games, crazy taxi games (Comment on this)
10:45 am	crazy taxi games No two taxi drivers earn the same amount. Earnings averages run the gamut, from less than a hundred dollars per shift to as much as three hundred fifty dollars per shift. This is net earnings, after expenses, in the pocket, before taxes. What makes the difference? The key variables are: o Time working per shift. o Luck can play a small part. o Talent or skill. o Endurance o Money spent on gasoline o Time spent looking (cruising) for customers o Safe Driving (A cab in the repair shop earns nothing) Like any profession, the tricks of the trade a taxi driver develops will help as he becomes an accomplished professional. KNOWING WHERE TO GO AND WHEN TO BE THERE: By knowing where to be and when to be there the scope of cruising a taxi driver does looking for fares can be kept to a minimum. No one can limit where the passenger wants to go. This makes knowing where to go and when to go there all that much more important. As soon as a taxi driver knows the passengers destination, he has time to plan where to point and drive the taxi after the fare in hopes of finding a new passenger as soon as possible. In some cases a fare will be standing waiting for the taxi as the passenger exits the cab. But this is not always the case. Theaters, transportation terminals, convention centers and hotels all generate demand for taxi service. Knowing which show gets out at what time, when planes and trains will arrive, or local movie schedules and even what time shifts change at certain businesses are part of being a professional taxi driver. GOOD SERVICE: Opening a door is not an outdated act of chivalry. It is the act of a conscientious chauffeur aware of the comfort and value he is adding to the experience of his client. Can a taxi door be opened by a taxi driver every time a passenger gets in or out of a taxicab? Probably not. The street hail aspect of the industry the riding public is used to, has many passengers hailing, and quickly getting in to the back seat of the taxi with no help from the driver. That being said, it still allows for a large percentage of clients to have the door opened for them. The exact amount of extra income opening a door is worth in terms of revenue to one New York City taxi driver will never be known. But, how many of those doors needed to be opened? All of them! The only question is who does the opening. Knowing this is part of being a professional. GASOLINE: By limiting how far you cruise looking for a fare a taxi driver can conserve gasoline. this will reduce expenses and increase earnings. This can be done by knowing where and when to be places, such as the Theater District when shows let out or in the financial district when workers get off from work. This does not mean a driver should avoid cruising. It means a driver should have an idea of why he is cruising towards a certain area. There is no reason to cruise towards a warehouse district if all the buildings are closed. crazy taxi (Comment on this)