We’re not lawyers, so we can’t give legal advice. However, we can help you understand the tax implications that come with incorporating your Airbnb business. Organizing your home-sharing business into an LLC or corporation protects you from lawsuits and potential damages. If you organize your business into a formal entity, your personal assets are protected […]
Category: Airbnb Taxes
How to Navigate the NYC Airbnb Law
The New York City Airbnb law is changing the game for NYC Airbnb hosts. This new law regulates Airbnb hosting in the city, and it restricts many hosts from offering short-term rental hosts in the Big Apple. Now, NYC requires Airbnb to disclose all of its hosts in the city so it can enforce the […]
Rental Property Tax Deductions for Airbnb Hosts
House sharing is a great way for many people to generate a substantial income. When it comes to running your business, you probably have the hospitality part down, however as far as your taxes are concerned, if you’re like many successful hosts, you’ve got a bit to learn tax-wise. This is understandable, taxes elude most […]
Best Airbnb Management Software for Small Businesses
Airbnb management software can help small home-sharers take their businesses to the next level. […]
Rental Income Tax Rate For Airbnb Hosts
Many people have discovered the benefits of opening up their homes to rent on sites like Airbnb and VRBO. It is a good source of income and can be very rewarding both personally and financially. Some people have even been able to scale their operations where they manage multiple listings. When you are generating a […]
Airbnb 1099 Forms: Everything You Need to Know
As a follow on to our post “What is a 1099 and Why Does it Matter”, we thought we’d publish a short post on receiving 1099’s and filing 1099’s for homesharers, which are due January 31 for the previous year. […]
Tax Deadlines for Airbnb and VRBO Hosts
Are you keeping up with your Short-Term rental taxes? Whether or not you will need to pay taxes depends on how many days you rent your property during the year, how much you earn, and where your property is located, among other factors. […]
Escaping Airbnb Scrutiny – How To Protect Your Airbnb Business
We are in what you can call a Sharing Economy boom. It seems like every other day, new Sharing Economy platforms are popping up. These innovative companies are addressing issues that real people have and providing smart and efficient solutions. In addition to providing solutions, the are also providing opportunities for everyday people to generate […]
Tax Mistakes To Avoid – Get Your Taxes Right The First Time
If you participate in the Sharing Economy, be it opening up your home on Airbnb or sharing your car on Turo, you know that it can be very rewarding. While you may enjoy running your business, the bottom line is you are generating an income. This income, regardless of if it is part time or […]
Sharing Economy Tax Tips – Get The Most Out Of Your Tax Pro
Many people only associate their tax advisor with tax preparation. However, the benefits of working with a tax advisor go well beyond tax preparation, especially for your Sharing Economy business. Whether you are full time or part time in your Sharing Economy business, having the right support when it comes to finances and taxes is […]