Taxi Driving..The Answers !

MarinoMark

Over the past while I have seen posts asking, Is it an earner,how much do you earn etc.Here goes.. My mate started it 2 months ago and he normally starts at 11am ish and works through to 11/12 at night. During the week/day he averages approx 20 euro per hour. On friday/sat nights its like shootin fish in a barrell and the hourly rate goes up to 40 euro + per hour. So to average this whole thing out.Just say 72 hours spread over the week, including busy weekends works out at approx 22 euro per hour =1584 euro. This is possible if you stay out and NOT go home. Act as if you have to do a 12 hour shift and dont go home for a cup of tea if you get a drop on the road you live on !! You will get comfy kick off the shoes and probably will end up goin to bed when you still have 4 hours more to do. Hope this helps...:D

homeOwner

Very interesting....

How much does he declare to the tax man

Tony bee

My brother drives a taxi 8am-6pm monday to thursday and friday or saturday night 8pm-4am. he makes between 1300-1600 a week. and his accountant see to it he pays about 50 euro a week tax.

homeOwner

How can he legally do that? Is there some loop hole or is it a case of he hopes he doesnt get audited.

I am always amazed by people who get away with not paying the proper amount of tax....and I know a few of them.

Tony bee

He uses an accountant. They know every trick in the book. He was audited, sent them straight to his accountant, bingo everything is ok

Kinetic^

Hi lads, just in relation to answers on tax. Basically even though taxi's were supposed to get those receipt machines in, most of them didn't. And sure they've probably a second one on the go (if they got them in) in order to lower their income.

The hardest transaction to audit, is the cash transaction. Unless money is going through a bank account, it's very hard to prove it exists or did exist.

The revenue will look at the persons lifestyle and see whats going on there. If he's driving a Mercedes S320 and declaring he's earning 30k a year, then in 99% of cases there's some fraud being committed.

hottstuff

Driving a taxi can be very rewarding , if you put the hours in.
But all that can be undone the day you get jacked or robbed.
ive seen and heard so many stories that unless you are immune to all types of terrible happenings (puking , mugging , abuse etc etc) , it will take its toll on you mentally.
one to consider

Dave!

Jayzis, that's handy money! :eek:

MarinoMark

homeOwner wrote:

Very interesting....

How much does he declare to the tax man

The Relationship between a citizen and the wretched Revenue is of course a confidential matter, Suffice to say..Both parties are happy...:D

ronbyrne2005

my fathers has a taxi plate as well as a civil service job,you can easily make 50k a year after tax without working yourself too hard,you have to know the right time to work.you write off the price of your car against any profit so buying a more expensive car can reduce your tax bill. every taxi has to have a meter which records all transactions that are put on the meter but revenue never audit them.bigger fish to fry and as someone said above very difficult to prove anything with cash based services. im actually considering taxi'ing for a few years and saving up enough money to start a business.

Dub13

I always wondered if the lads who just work the airport make money,as there always seems to be 100s of taxis in Q waiting for punters.Surely this must eat into there hourly rate.

magpie

I always wondered if the lads who just work the airport make money,as there always seems to be 100s of taxis in Q waiting for punters.Surely this must eat into there hourly rate.

Its ok, charging americans €350 to get from the airport to Jury's evens that out.

Kinetic^

ronbyrne2005 wrote:

my fathers has a taxi plate as well as a civil service job,you can easily make 50k a year after tax without working yourself too hard,you have to know the right time to work.you write off the price of your car against any profit so buying a more expensive car can reduce your tax bill. every taxi has to have a meter which records all transactions that are put on the meter but revenue never audit them.bigger fish to fry and as someone said above very difficult to prove anything with cash based services. im actually considering taxi'ing for a few years and saving up enough money to start a business.

Just in relation to buying a more expensive car. You do realise that it doesn't matter what car you have, you still earn the same money? If you buy a more expensive car, depending on how you buy it, leads to more outgoings such as higher loan repayments, higher petrol/diesel bills, higher service charges, higher car tax.

I understand what your saying that it reduces your tax bill and to the average joe that sounds great, but you didn't explain in detail how to reduce your tax bill. It sounds great, but you'll have less money in your pocket then if you had a less expensive car. So yes you will reduce your tax bill but you'll also reduce your cash in hand and that's the most important figure after all.


The revenue are slowly making headway through all the cash businesses. They made a balls of trying to get into the childminders in last years budget but hey, they're not perfect.:p

The reason for the licence for doormen and secuirty is so that they can track who's working where and then what they're going to get paid so you'll see alot of people getting stung in the next 2 years in the security industry.

And just a bit of advce on getting into the taxi service, remember Jamie Foxx in collateral, he did they same as you want to be and he met vincent the serial killer, think about it!!!

[Jackass]

Yeah, it's dangerous enough business...but as a lad, I can tell you that you can reduce that risk by never picking up lads during the drunk hours, but always pick up girls and couples...I see it all the time...Not that I'm complaining, it's very understandable, why take the risk? Especially when there's no short supply of punters...But can be frustrating when you're freezing your tits off in town

Not a bad game to get into...How much are we talking to get finance on a decent/old enough car + plate?

In total and/or monthly overheads?

MarinoMark

DubGuy wrote:

Yeah, it's dangerous enough business...but as a lad, I can tell you that you can reduce that risk by never picking up lads during the drunk hours, but always pick up girls and couples...I see it all the time...Not that I'm complaining, it's very understandable, why take the risk? Especially when there's no short supply of punters...But can be frustrating when you're freezing your tits off in town

Not a bad game to get into...How much are we talking to get finance on a decent/old enough car + plate?

In total and/or monthly overheads?

10k would get you going, 5750 plate +meter etc, half decent car 4,5k, juice for the shift 20 euro diesel, 30 euro petrol. plus wear and tear, tyres etc probably 50 euro a month..M

Dub13

You wounder how the part time lads make it work seems as they are paying over 3k for taxi insurance.The taxi unions are always giving out about part time drivers so there must be a few.

Elessar

Christ, I think I'll be a taxi driver.

Does your friend just pick up people off the street or is he with a taxi office with one of those on-board computers?

zuutroy

I have my PSV, but haven't used it yet....I'm sorely tempted to take a week off work and rent a City Cab, just to see what its like....though I cant imagine sitting in a car for that length of time is fun or good for you.

MarinoMark

DubGuy wrote:

Yeah, it's dangerous enough business...but as a lad, I can tell you that you can reduce that risk by never picking up lads during the drunk hours, but always pick up girls and couples...I see it all the time...Not that I'm complaining, it's very understandable, why take the risk? Especially when there's no short supply of punters...But can be frustrating when you're freezing your tits off in town

QUOTE]

Yeah, Stick to girls and couples, less hassle, less likely to rob/puke/do a runner etc !

sean falvey

I am full time driver just renewed license for 5 years must i do the exam next time i renew

sean falvey

MarinoMark wrote: »

10k would get you going, 5750 plate +meter etc, half decent car 4,5k, juice for the shift 20 euro diesel, 30 euro petrol. plus wear and tear, tyres etc probably 50 euro a month..M

It will cost you 20,000k
Car 10,000k the vehicle you buy cant be more than 9 years old and must have 500 litre boot
License 6,345
psv license 250,00
exam 84,00
nct 50
road tax 75
Your fuel cost will be roughly 12% of your takings
your finance i think would be about 5-600 per month over 3 years

sean falvey

sorry foof sign and meter 1000 euro hope this helps

2qk4u

MarinoMark wrote: »

Over the past while I have seen posts asking, Is it an earner,how much do you earn etc.Here goes.. My mate started it 2 months ago and he normally starts at 11am ish and works through to 11/12 at night. During the week/day he averages approx 20 euro per hour. On friday/sat nights its like shootin fish in a barrell and the hourly rate goes up to 40 euro + per hour. So to average this whole thing out.Just say 72 hours spread over the week, including busy weekends works out at approx 22 euro per hour =1584 euro. This is possible if you stay out and NOT go home. Act as if you have to do a 12 hour shift and dont go home for a cup of tea if you get a drop on the road you live on !! You will get comfy kick off the shoes and probably will end up goin to bed when you still have 4 hours more to do. Hope this helps...:D

Im 8 years driving a Taxi and I cant earn half that. Your mate must be fond of fairytales.

AARRRGH

2qk4u wrote: »

Im 8 years driving a Taxi and I cant earn half that. Your mate must be fond of fairytales.

€800 a week is still a pretty good wage.

Alun

AARRRGH wrote: »

€800 a week is still a pretty good wage.

The original post was from 2006 ... maybe things were different back then

Dub13

AARRRGH wrote: »

€800 a week is still a pretty good wage.

Not by the time they take their expenses out.

2qk4u

Alun wrote: »

The original post was from 2006 ... maybe things were different back then

I didnt spot that, things were very different then.

tatli_lokma

2qk4u wrote: »

I didnt spot that, things were very different then.

Even in the boom times there were the realist drivers who made a fair but realistic wage and there were the baosters, who if we were to believe them were making more than the bankers!! I know a few of both - the boasters will tell you they are making €1500 - 2k (or more!:eek:) a week, but generally they were living on all sorts of finance, and having a merry old life, but didn't want to admit they were financed up to their armpits so instead bigged themselves up.

I have friends and family in the taxi business - those who do it full time as their job generally are finding things a struggle, even in the boom years its not all it was made out to be for most of the joe soaps. Then I have a "friend" who has a load of taxi's rented out, a family member in the motor trade so minimal costs for maintenance and servicing, he fleeces anyone he gets the chance to fleece, and he is literally raking it in. As are the many people who do it part-time and have second jobs with security.

What people fail to remember about taxiing is just how uncertain it is - if you get sick, break a leg or whatever and can't work, all your bills still have to be paid, and you have no sick leave. If you want to go on holiday, you don't get holiday pay so you must work twice as hard before and after your time off to make up for it. If you can't drive you can't get someone to cover for you. If you can't drive your bills for car repayments, insurance etc still have to be paid. New rules now mean you now cannot drive a car more than 9 years old. the amount of pukers and scumbags a lot of drivers have to tolerate is not nice. Spending 2 hours waiting in the airport (also known as the Kesh as once you get in, you ain't getting out! ) and then getting a fare to Santry or The Hilton!
there is very much a downside also.

I know there is a lot in the press about it now, and I can see things from both sides, pos and neg, so not getting into that debate...but just in terms of people saying its easy money, can make a fortune blah blah....there are not many jobs out there that are a cake walk - everything has its downside, and lets be honest, anyone who believes 100% what a taximan tells them is mad!

p.s - as to the advice of only pick up this that or the other type of fare - as a public service vehicle they are not allowed to do this without VERY good reason. And try getting away with that one on a taxi rank, telling the others I'm first in the queue, but I'm not taking that smelly aul lad, I'm waiting for that nice young girl!!! good luck with that!:p

Dub13

Here are the 3 things you don't believe when talking to a taxi man.

1)The amount of money they are making.
2)The amount of people they are 'kicking the fcuk out of'.
3)The amount of woman they are riding.

Spook_ie

Wonder how many people read this in 2006 and decided to get ( and probably regret ) a plate?

Dub13

Spook_ie wrote: »

Wonder how many people read this in 2006 and decided to get ( and probably regret ) a plate?

I know one lad who gave up a very good semi state job for the taxi business,I would say it was around 06 as well.Very foolish move.