HomeAway vs Airbnb, which is better? The timeshare industry has exploded over the last several years. Homeshare sites like HomeAway and Airbnb have gained in popularity. Travelers appreciate having flexible housing options when they travel. There are more short-term rental apps than ever before, so hosts have lots of options. So which platform is best […]
Category: Airbnb Taxes
The Ultimate Tax Planning Checklist for Homeshare Hosts
Are you ready for this tax year? With the end of the year fast approaching, now is the best time to consider your tax strategy for the new year. By planning ahead, you can maximize your deductions before tax season begins. […]
Corporate Taxes for Rental Businesses
Corporate taxes can be a confusing subject for Airbnb hosts. If your Airbnb business is incorporated, you probably need some help preparing your taxes. You need a lot of paperwork to file corporate taxes, so we put them together to help save you time. Hopefully, this post will make it easier to file your taxes […]
Easy Ways to Save on Your Airbnb Taxes
Listing a short-term rental with Airbnb or other sites can provide an excellent revenue stream. If you’re willing to make your guests feel welcome and accommodated, it’s even more lucrative. However, the IRS will want its cut when your rental business becomes successful. The IRS expects you to report every bit of income so it […]
How Does Airbnb Hosting Affect Taxes?
Renting an extra room on Airbnb is a great way to generate some side income. However, the income you earn isn’t tax-free. Some hosts only use the platform to supplement their income but, for others, it’s a full-time business. Either way, every dollar you earn on Airbnb could affect your tax situation, so it’s important […]
How to Find the Best Tax Professional for Your Business
Working with an expert can save you from learning from your own mistakes. And having a tax advisor is a smart choice that can lead to a lot of benefits for your business. Tax advisors aren’t just for tax preparation. They can provide guidance on multiple areas of your business and help steer you towards […]
Best Tax Tips For Airbnb, VRBO, and Homeaway Hosts
As a short-term rental host with Airbnb, VRBO or HomeAway, you must learn about the possible tax implications of your side gig. In most cases, you’ll be required to pay tax on your short-term rental income. As a result, tax planning is a must if you want to minimize your tax bill and also make […]
A Simple Tax Guide for Airbnb Hosts
Airbnb has proven to be an excellent way for many people to generate income. What is really great about Airbnb is it allows you more freedom and flexibility. You can rent out your property as much as you want to. This creates a substantial full time or part-time income for many taxpayers. When it comes […]
Short Term Rental Laws By Region
As an Airbnb host/short term rental host, you will automatically be considered as a 1099 worker by Airbnb. A 1099 worker, also called an independent contractor, is a self-employed person who engages in a business, trade, or profession in which they have the right to control when their work is done and how it is done. As a 1099 business, you will be responsible for paying your own taxes, including social security and unemployment taxes. You’ll have the option to operate as a sole propr […] […]
Beyond Pricing For Airbnb, VRBO, & HomeAway
Airbnb has revolutionized the way we travel. With its increase in popularity, other similar sites like VRBO and HomeAway have popped up. For travelers, hosting sites are great because they offer more variety and affordable prices. For hosts, it is a great way to make some extra money. Rates directly impact your ability to full […]