TAXES SOLVED
FOR THE SHARING ECONOMY
Whether you rent your home on Airbnb, drive for Uber, or receive 1099 Contract Income, we’re here to save you time, money, and give you peace of mind.
We’ve been featured in the following publications
What we do
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:
Individual and Business Income Tax Return Preparation
Tax and Estate Planning
Entity Selection: Corporate and LLC Tax Reporting Structures and Setup
Quarterly Tax Payment Planning and Preparation
Compliance with Local, State, and Federal Regulatory Requirements
IRS Audit and Defense
To get more familiar with how we work and how we provide value as the #1 Tax and Accounting firm for the Sharing Economy, check out our tools & resources below.
Airbnb & VRBO Short Term Rental Tax Preparation Services
Renting your home allows you to supplement (or support) your income while providing you with great tax benefits.
With over 500 HomeShare tax returns across 33 states, we’ve grown with our hosts as the tax, accounting, and regulatory issues have continued to become more burdensome.
Below is just a partial list of value-added services we provide to our HomeShare Clients to manage increasing regulations:
- Maximizing Home Mortgage, Rental Expense Deductions
- W-2 and Start-up Expense Allocations with HomeSharing Activities
- Properly Structuring Short Term Rental activities: LLC, S-Corp, Sole Proprietorship, etc.
- Income and Expense Allocations Between Personal and Business
- Short Term Rental Income and Unemployment Tax Reporting
- Renovating and/or Finishing a New Building on Your Property For Rental Activities
- Capital Improvements to Your Property: New Heaters, Plumbing, Fixtures, and How to Depreciate
- Receipt and RecordKeeping Management for Tax Purposes
Deduction-Maximizing Tax Preparation
Rideshare and On-Demand (Uber, Lyft, TaskRabbit, & Turo) Tax Preparation Services:
For individuals working in the rideshare and on-demand space, there are significant deductions, including:
- Mileage: (standard mileage rate or actual cost method)
- Parking Fees and Tolls
- Commission Fees
- Food for Passengers (up to 50 percent)
- Proportionate Cell Phone Expense
- Car Interest
- Educational Expenses (if you’re in school!)
- Tax preparation Fee (yes, that means our fee!)
1099 Income Tax Preparation Services:
Being an independent 1099 allows you to have a variety of income sources that suits your lifestyle and interests. Therefore, our team has significant tax preparation experience for the following industries:
- Website Designer / Programmer
- Writer
- Independent Consultant
- Actor/Actress
- Start-up Founder / Small Business Owner
- Event Production / Film Industry
- Other Sharing Economy Platforms: Dog Walking & Daycare, Food Delivery, Delivery Service
Tools and Resources for Airbnb Hosts
Be sure to Learn More for access to the Shared Economy Tax Webinars and Downloadable Content. Here are just a few of the benefits of being part of our Webinar List:
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- Updates on IRS Audits and Best Practices for Maximizing Deductions without Raising Red Flags
- Live Q&A of Your and Other Hosts’ Homesharing Tax Questions
- Step-by-Step Guides on Setting up Your Accounting
- Guidance on Recoding Capital Improvements to Your Property
- Guidance on Strategically Reporting Your Income and Expenses
- Estimating Taxes for 1099 Income
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, CaliforniaI 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 HostWhen 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.
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 HostShared 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 HostPleasure 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 HostMiguel 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 HostsDerek 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, CaliforniaMiguel 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 MusicianIn 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 DriverShared 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 OfficerI 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 HostNew 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