ï‚· Tax Compliance:o Understanding how taxes work for self-employed drivers.o Claiming tax deductions for fuel, maintenance, insurance, and depreciation.ï‚· Working with an Accountant:o Learning the importance of keeping accurate financial records.
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ï‚· Analyzing Ride Data:o Using the Rhinodrive app to identify peak hours and high-demand locations.o Evaluating which rides (short trips vs. long trips) maximize profitability.ï‚· Planning for Lean Periods:o Strategies for earning consistently during off-peak times.
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ï‚· Responsible Borrowing:o How to choose the right loan or financing for a vehicle.o Understanding interest rates, EMIs, and repayment schedules.ï‚· Debt Management:o Strategies for paying off loans early and reducing interest costs.
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ï‚· Investing in Assets:o Investing in vehicle upgrades for better earnings.o Learning how to purchase new vehicles through loans or leasing options.ï‚· Other Investments:o Exploring low-risk investments like savings accounts, mutual funds, or pensionplans.o Identifying opportunities to invest profits for long-term gains.
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ï‚· Budgeting Basics:o Tracking income and expenses (fuel, maintenance, tolls, etc.).o Categorizing expenses into fixed (insurance, EMI) and variable costs.ï‚· Saving Strategies:o Building an emergency fund to cover unforeseen events (e.g., vehiclebreakdowns).o Understanding the importance of setting aside savings for future goals.
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