Running a vacation rental business with VRBO, HomeAway and Airbnb can be lucrative. However, there are also a lot of tax and accounting issues to consider. When you use a short-term rental marketplace, you need to carefully track your income and expenses so that you are prepared for tax time. Hiring accounting professionals and an […]
Month: December 2018
Property Depreciation Basics for Airbnb Hosts
For those Airbnb Hosts who also own their home, depreciating your property can be an advantageous tax deduction that will reduce your taxes. This article provides you with the knowledge necessary to take the depreciation deduction. What Is Depreciation? Depreciation is a method used to determine how much of the assets (e.g. your home) value has been used up. For Airbnb rental owners, the cost of buying or improving your home can be depreciated. Depreciating these assets in a […] […]