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Accounting and Tax Tips Blog

How to File Your Airbnb Estimated Taxes

The IRS classifies your Airbnb earnings as income, and you have to pay taxes on those earnings. If you expect to owe more than $1,000 in 1099 taxes, you must pay quarterly taxes for your earnings. Some new hosts might feel overwhelmed with these new tax hurdles, but...

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Airbnb Hosts: How to Respond to IRS Notice CP2000

Did you receive a CP2000 notice from the IRS? If so, don’t ignore it. Usually, the letters warn you about discrepancies between your reported earnings and IRS records. The CP2000 notice isn’t as bad as an audit, but don’t take it lightly. CP2000 is serious...

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Occupancy Tax Rates for Airbnb in Major Cities

A few years ago, cities began to realize that Airbnb rentals were eating into their tax revenues. At the time, Airbnb hosts weren’t paying taxes like hotels, so many US cities set out to change that. Now, many cities make Airbnb hosts pay taxes just like hotels....

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Are REITs a Good Idea for Airbnb Hosts?

Real estate investment trusts are popular vehicles for large-scale real estate investments, but do they have any application to your short-term rental business? Many publically-listed real estate companies organize themselves as REITs for tax benefits and...

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Filing Requirements for Mexico Airbnb Hosts

Mexico is a popular tourist destination with lots of affordable real estate opportunities. It’s no wonder that many Airbnb hosts choose Mexico for their first international rental. However, Mexico Airbnb hosts need to keep up with Mexican taxes or they risk...

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