Support/Owner Help/Pricing & Payment

What will I earn? How do I get paid?

Jen C
posted this on March 02, 2012 15:45

What Will I Earn?

RelayRides car owners receive 75% of the rental price and excess mileage charges. If the renter has not paid for tickets or tolls during their reservation, we will reimburse your earnings for those charges after receiving the necessary documentation.

How Do I Get Paid?

Three days after the completion of a RelayRides reservation, we will automatically initiate ACH payment (like direct deposit) for your share of the rental price directly to your bank account. Please allow 1-2 business days after then for the transfer of the funds.

In order to receive these funds, you'll need to provide your bank’s routing number and your account number, which is the information you can find on the bottom of your personal checks or deposit slips from your bank. You’ll be able to securely enter this information on your earnings page (https:relayrides.com/earnings). We will not have access to your bank account information, and the routing information will be stored by a Level-1 PCI compliant third party who will facilitate the payments.

 Are My Earnings Taxable?

 As a general statement, income earned by renting out your car is taxable. If your earnings exceed $600 in a calendar year, you will need to ensure that we have your W-9 information so that we can send you a Form 1099 for that year. There may be deductions you might be able to take against this income, i.e, some vehicle expenses, depreciation, etc.

Please consult your tax professional to determine tax treatment for your carsharing activities, and retain all relevant documentation.

This statement is provided for information purposes only and does NOT constitute tax advice.

 
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