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Airbnb as a Tax Strategy

With over 300 Airbnb clients with multiple income streams, we understand how to use short-term real estate as a wealth-building tool, while maintaining a tax advantage in an ever growing complex portfolio.

1099 Taxes Solved

Whether you work on Upwork or have a successful solo consulting practice, you’ll want to make sure you’re doing the right things for your taxes, credit, and well being. We’re here to save you time, money, and give you peace of mind with tax preparation services.

Car Sharing on Turo

Whether you’re renting out one car of a fleet, you’ll need to make sure that your loans, depreciation, and expenses are handled properly. Our tax preparation and strategy gives you the keys to better decision making and results.
Shared Economy Tax (formerly Shared Economy CPA) is the premier tax firm for earners and entrepreneurs in the Sharing Economy to help with tax planning, compliance, preparation, and savings.

How The December 2020 Package Affects Small Businesses

The pandemic devastated the small business sector in 2020, so the government passed another round of stimulus measures in December of 2020. This December 2020 stimulus package provided additional support for the Coronavirus Relief Fund (CRF), including direct payments...

Airbnb Laws in NYC: A Guide for 2021

Millions of Americans use Airbnb as an outstanding source of income. But short-term leasing can expose hosts to a gauntlet of local regulations. In places like New York City, where rules are strict, it can be a challenge to host on Airbnb. This article will outline...

IRS Updates the 2021 Tax Deadlines

When it comes to the pandemic, we are starting to see the light at the end of the tunnel. Hopefully, this progress is sustainable. And while things are starting to look more optimistic, many small businesses are still reeling from the economic ramifications of the...

The Self-Employment Ledger: How to Start and Why It’s Important

When you own your own business or are self-employed, you have many more responsibilities regarding your bookkeeping and finances. It is important to keep accurate bookkeeping for your self-employment income and business expenses. This enables reliable forecasting,...

What You Need to Know About Airbnb Service Fees

Listing a property on Airbnb can be a great source of extra income. But, the convenience of using this platform comes at a cost. To pay for its services and 24/7 support, the company charges an Airbnb service fee – something hosts need to understand. As such, we’ll...

Do I Have a Section 1245 Property?: How to Find Out & Why It Matters

As a business owner, you need to buy, use, and - eventually - dispose of the property. And, when you sell something, the IRS wants to get its cut of any gains on that sale. These taxes can take a major toll on your finances. To plan for these taxes, businesses need to...

Best Invoicing Software for Freelancers

Businesses can’t survive unless they’re making money, and invoicing software can help you get paid quickly and efficiently.  Some companies choose to implement their own invoicing systems, but DIY invoicing can become cumbersome once your company gets larger. The best...

AirBnB Atlantic City: New Taxes for Hosts – Detailed Guide

Many homeowners use Airbnb to make money from their property, and, as usual, city governments want a piece of the action. Several cities have imposed special taxes on Airbnb and other short-term rental apps over the past years to increase their tax revenues. Most...

What is a Real Estate Professional? 

Real estate investing offers an outstanding path to long-term wealth. However, a lot of confusion exists when it comes to real estate and taxes. New investors hear that real estate provides great tax advantages, but they don’t necessarily know-how. Things get even...

Can an Airbnb Host Qualify as a Real Estate Professional? 

For Airbnb hosts, determining whether you should be considered as a real estate professional is very important as it can have a major impact on your tax liabilities. Here is what a real estate professional is and how this status affects how much in taxes you will have to pay each year.What is a Real Estate Professional?According to the IRS, a real estate professional is a taxpayer who spends the majority of his or her time in real property businesses. To meet this specification, the taxpayer mus […]

Joe Biden Stimulus: What Does It Mean For Small Business?

Recently, President Biden released his proposed COVID-19 economic stimulus plan. Dubbed the “American Rescue Plan,” this proposal would amount to a $1.9 trillion total stimulus package. With that much spending, businesses are asking how they will be impacted....

OUR SERVICES

Shared Economy Tax (formerly Shared Economy CPA) is the premiere Tax firm for 1099 Independent Contractors and those working in the Sharing Economy to help with tax planning, compliance, preparation and savings.


Specifically, we provide the following services:

personal and business tax

Individual and Business Income Tax Return Preparation

Real Estate tax

Tax and Estate Planning

Entity Selection

Entity Selection: Corporate and LLC Tax Reporting Structures and Setup

Tax planning

Quarterly Tax Payment Planning and Preparation

Law Compilance

Compliance with Local, State, and Federal Regulatory Requirements

Defense

IRS Audit and Defense

Get to know us

Real Stories, Real Entrepreneurs

​I never thought I’d say this but I’m actually not dreading tax time anymore thanks to Natalie, Derek and Shared Economy Tax. I have been in business for over 4 years and have used 2 other tax professionals before calling them, and I’m so glad I did. As a creative entrepreneur and as someone with several completely different sources of income, it was so worthwhile to have their help in both getting my books organized and filing the various forms for two LLCs, a W-2 and a sole proprietorship. I love that they use current technology to enable working remotely, opposed to going into someone’s office to talk over everything. I was able to call -and- text Natalie with tax questions (and I have a lot of them). Even during their busy season, Natalie always made time for me and was responsive, as well as very personable. Their pricing is upfront and fair, and we got everything submitted on time. I highly recommend the services of Shared Economy Tax, they were worth every penny.

Amy - Airbnb Host, Oakland, California

Founder, Color & Code

I found Shared Economy via a search looking for a CPA specializing in Airbnb. They took my chaotic year of new home, new state, new Airbnb and made it largely effortless. I look forward to working with them again next year.

Holly - Airbnb Host

Riverdale Park, MD

When tax season came around after my first year of freelancing, I was completely lost. I knew that if I tried to muddle through on my own, I risked overpayment of my taxes or, even worse, penalties from the IRS. Fortunately, I heard of an online seminar featuring Derek Davis. His knowledge and commitment to helping freelancers with their accounting needs led me to choose Shared Economy Tax as my tax preparer.
It was an excellent choice. Everyone at Shared Economy was polite, efficient, and extremely helpful. I could not have asked for a better experience, and I’m truly happy that I’ve found experts for all my accounting needs.

Heath - Upwork Freelancer, Helena, Alabama

Freelance Medical Writer/Editor

​I was looking for a knowledgeable, professional, and competitively priced Accountant to help me file my taxes. I’m glad I found Shared Economy Tax because they met my expectations in these areas and were very knowledgeable regarding how I handle my Airbnb income and expenses.

Blaine - Airbnb Host

Portland, OR

Shared Economy Tax is super easy to work with. I used to have to spend hours filling out a packet for my previous Tax, then mailing it off and going to an in-person meeting. Everything with SET is online, fast communication and they got me a nice return. Highly recommend!

Jocelyn - Airbnb Host

Los Angeles, California

Pleasure working with Miguel and his team. Very effective and provided the right set of skills for what I was looking for. Thanks Miguel!

Brian - Airbnb Host

Boston, MA

Miguel and Kym helped us with our Airbnb taxes. We didn’t really know what we were doing, but they walked us through everything and helped understand our business better. Shared Economy Tax ended up saving us a ton of money on our taxes. Also, I highly recommend checking out their blog and videos. Tons of really helpful content.

Katie & Spencer - Airbnb Super Hosts

Salt Lake City, Utah

Derek was able to help get my complicated and disorganized business ready for tax season and the process went amazingly well. He took care of everything and alleviated all my headaches. I cannot recommend Derek highly enough!

Robbie - Airbnb Host, Los Angeles, California

Founder, Inner Confidence

Miguel was very helpful and easy to work with! I would highly recommend him to anyone who Airbnbs or is part of the sharing community- he has valuable insights and advice on getting taxes done efficiently and properly. Big thanks to Miguel and everyone at Shared Economy!

Maria - Airbnb Host and Professional Musician

Colombus, Ohio

In all my years of filing taxes, never have I experienced a more personable, understanding, compassionate and professional group of people. This team is incredibly focused and has the experience that will top anyone, anywhere period.

Tyler - Uber Driver

Jeannette, PA

Shared Economy Tax was fast to respond, simple to work with, and gave me confidence in a complicated tax situation. I’m looking forward to working with them again this coming year!

Jason - Airbnb Host & Chief Technology Officer

Tierra Verde, FL

I highly recommend Shared Economy Tax Services, it was my first year doing my taxes as a business Airbnb Host & Property Manager. I honestly thought it was going to be a huge project, but it so easy that I couldn’t even believe it, they understand how the shared economy works perfectly and I obtained the expected results, no surprises no hassles, they definitely deliver more than what they advertise.

Pedro - Airbnb Host

Long Beach, CA

New to Hosting and doing business taxes, Miguel has made my life so much simpler with the services he provided. As a Vet with PTSD, trust is my biggest issue and Miguel has won that over.

Laysell - Airbnb Host

Seattle, WA

Contact Us for Tax & Bookkeeping Services Today!