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How is Airbnb Taxed for Hosts? | Best Tax Strategies 

Toby Mathis Esq | Tax Planning & Asset Protection
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Airbnb. What American company offered countless opportunities across the world to those with properties begging to be rented out to travelers across the globe. Many heard the call to this chance at a side hustle or even a career. However, the benefits brought on by this revolution are accompanied by burdens of responsibility.
Are you an Airbnb Host?
Things need to be considered and calculated. We bring you this video to help ease the burden to those with a relation to Airbnb. The process is not as simple as one might assume from hearsay or upon entering the market. Substantial quantities of factors play a role in the finances of Airbnb hosts, so neglecting the facts can prove dangerous to one's income. They say two things are certain in this life, and one of those things is taxes. Staying vigilant in this regard is vital to success.
In this video, follow us in our presentation of how Airbnb hosts are taxed. We give examples of practices, examples, and plenty of information that could be of use to those partaking in Airbnb. Watch as we write it out to give our audience a better understanding of the topics at hand with a visual learning aid. Easy to understand and easy to follow, don't miss out on this incredible video.
We appreciate you stopping by our video and hope you enjoyed the content. Subscribe to the channel if you do not wish to miss out on future content similar to this one. Like this video so as not to forget it and comment below with your onions along with questions.
If you would like to learn more about Toby Mathis, Esq. then please visit
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. of the information contained herein without seeking professional legal advice.
#airbnb #airbnbhost #taxes

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6 июл 2024

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Комментарии : 136   
@TobyMathis
@TobyMathis 8 месяцев назад
Do you want to dive deeper into this topic and talk to someone on my team? Schedule your free consultation now. 👉 aba.link/yy9
@kirkreese9066
@kirkreese9066 2 года назад
been watching hours of video on the topic and this was by far the most clear and complete. thank you
@LilaCWest-cn6cb
@LilaCWest-cn6cb Год назад
So glad I found your channel!! Very powerful information.
@langdonbarnes
@langdonbarnes 2 года назад
Thank you for your wisdom!! Very helpful.
@alliesteamc3546
@alliesteamc3546 2 года назад
Excellent, valuable education hard to find otherwise. Mant thanks!
@cristianmonsalves8132
@cristianmonsalves8132 Год назад
Amazing video; thanks so much!
@mrapp8918
@mrapp8918 5 месяцев назад
Excellent info! No hype. Just facts, logic & math. Keep calculating!
@spencersmith8011
@spencersmith8011 Год назад
Wow this was such a great explanation thanks for putting this out here for us!
@tyjameson7404
@tyjameson7404 2 года назад
Epic video and breakdown 👍🙌🙏🏽❤️🔥
@alexis5784
@alexis5784 Год назад
Super informative and easy to understand. Just started on the platform & came here to get a better understanding of how I should manage my listings from a tax standpoint.
@community1854
@community1854 6 месяцев назад
Superb!! Love it!!
@jimmyfun22
@jimmyfun22 2 года назад
Thank you for your hugely informative help! I am left with a question: Is it OK to set up the lease-back situation you showed at the end of the video after the first year of actively self-managing?
@Lissa0105
@Lissa0105 Год назад
Thank you for this detailed video!
@TobyMathis
@TobyMathis Год назад
You are so welcome! Thank you for watching the channel!
@jrun26301
@jrun26301 2 месяца назад
Thank you!
@janetvalencia597
@janetvalencia597 2 года назад
Thank you Sir. Broke it down very elementary for all of us not tax savvy. Appreciate your content. 😀
@TobyMathis
@TobyMathis 2 года назад
Happy to help! Thank you for watching!
@rodrigodasilva2629
@rodrigodasilva2629 Год назад
Golden video. Thanks.
@charmainefaulknor5546
@charmainefaulknor5546 2 года назад
Thanks for the information
@kevinroberts7255
@kevinroberts7255 Год назад
First video of yours I've listened to Toby and this is excellent. Love the way you distilled this down also. Will be watching more of yours for sure.
@TobyMathis
@TobyMathis Год назад
Glad you enjoyed it!
@simplysoothesounds
@simplysoothesounds 2 года назад
Great video! Thank you for sharing! Can you please do another video in taxes for rental arbitrage and Airbnb?
@sumeetbedi1042
@sumeetbedi1042 2 года назад
Very nice detailed information. I always watch your videos and you always explain everything so well. Thanks
@TobyMathis
@TobyMathis 2 года назад
Thank you for watching our videos! We hope you continue to enjoy our content!
@jackpestaner6925
@jackpestaner6925 9 месяцев назад
Thanks so much!
@edb5770
@edb5770 2 года назад
loved it great video! keep it up.
@TobyMathis
@TobyMathis 2 года назад
Thank you! Will do!
@TobyMathis
@TobyMathis Месяц назад
Learn how to use the IRS tax code to your advantage and keep more of what you earn during this free webinar. aba.link/ca3
@simonkaravai3424
@simonkaravai3424 2 года назад
Good info ,thank you
@TobyMathis
@TobyMathis 2 года назад
Glad it was helpful!
@tomstewart2426
@tomstewart2426 2 года назад
Great video! Thanks for breaking this down to a novice tax understanding level. Like a couple of other people commenting, I would love a video on addressing taxes for rental arbitrage.
@TobyMathis
@TobyMathis 2 года назад
Glad you enjoyed it and we will make a note of that suggestion!
@mancorallc1463
@mancorallc1463 Год назад
@@TobyMathis It be really helpful to a question mostly unanswered online
@jameszeris5418
@jameszeris5418 Месяц назад
Excellent
@Jason.Jodway
@Jason.Jodway 2 года назад
If the property were managed in a limited partnership, would the income going to the limited partner(s) be considered passive income?
@maxduran99
@maxduran99 Год назад
Just signed up for a strategy call. I have two questions. Is it possible to carry over the cost segregation loss to active 1099 income if the property was purchased in December of that tax year? If so, can you then convert the property to a long term rental the next year after taking the cost segregation loss the previous year against active 1099 income? Thanks so much!
@magalivillarroel9790
@magalivillarroel9790 3 месяца назад
Very nice, questions what happen if the Airbnb is out of the country?
@danielgomez8458
@danielgomez8458 2 года назад
hi toby, you say to put the property under a LLC and lease it to a corp. what corp would you recommend to collect the money
@laurenpage3301
@laurenpage3301 Год назад
Quick question, so I spent over 100 hours w some renovations decorating cleaning etc for guests last year. Only 3 rented in December the same year I did a ton of renovations. For my 2022 taxes, do I get to offset my 1099 and w2 w that activity (home Reno decor set up etc)?
@cecetapia6350
@cecetapia6350 3 месяца назад
Is there a w2 income limit for offsetting trade or business losses
@jerrymartinez4120
@jerrymartinez4120 2 года назад
Very informative video. I'm still unsure how to approach taxes this year since we live and list our home on Airbnb (still paying mortgage) and travel when its booked. We also have a detached garage behind out home that was converted to a small studio space, also part of our current mortgage. Main home = average stay is 3.2 nights Garage studio = average stay is 7.4 nights Combined = average stay is 6.1 nights I manage both on the Airbnb app, both are fully furnished, and we have a cleaning person that we pay. No other services offered.
@TobyMathis
@TobyMathis 2 года назад
If you have any questions, consider asking them on our podcast to help you andersonadvisors.com/tax-tuesdays-questions/
@kesahnartis8111
@kesahnartis8111 2 года назад
Is this for only if you own the property can you still do the last thing you explained with the LLC ? Because what I do it rent condos and then ask the owner if I can do Airbnb out of them. What would mine be labeled as
@stevenpower1804
@stevenpower1804 2 года назад
Nice work Toby! Now if you didn't participate and you paid someone to manage the ABNB is that expense deductible?
@nenyfernandez8011
@nenyfernandez8011 2 года назад
Thank you very much for the information. You have been very clear..
@Alphaanbu95
@Alphaanbu95 5 месяцев назад
I Enjoyed your Class ,Clear explanation.
@TobyMathis
@TobyMathis 5 месяцев назад
Thank you for your feedback! I'm really happy to hear that you enjoyed my class and found my explanation clear.
@Alphaanbu95
@Alphaanbu95 5 месяцев назад
@@TobyMathis absolutely it’s my pleasure 😀Thank you for the reply and class 🙏
@cabet6
@cabet6 2 года назад
Good job in explanation
@TobyMathis
@TobyMathis 2 года назад
Glad it was helpful! Thank you for watching our content!
@nicholasshook7513
@nicholasshook7513 Год назад
How can schedule c also be passive
@thehalographicmind3976
@thehalographicmind3976 Год назад
Do you help with accessing our Cestui Que Vie Trust Accounts ?
@matt9923
@matt9923 Год назад
What is you have multiple property's in one LLC do you average them together or keep separate? One property I have is under 7 and one is over. If I average them I am above 7 days.
@xcen22cal3
@xcen22cal3 Год назад
Great informative video. Toby, do you have videos on the process of creating that lease between the LLC and Corporation . Would you go more into detail on how to set up all of that. Thank You.
@TobyMathis
@TobyMathis Год назад
Great suggestion! We will make a note of it.
@janetayala6908
@janetayala6908 Год назад
After your monthly expenses what percentage do you set aside for the end of the year business taxes? Do you also pay the quarterly sales taxes? Please help!!!
@datboyblu3
@datboyblu3 2 года назад
Thanks for the informative lesson Toby! I host my home on AirBnB and still live in it. I just stay somewhere else while it is occupied. I manage it through automation technology and a google suite of tools. I have a cleaning that cleans after each guest, except for when I stay in between in guest visit, then I will clean. Would I qualify as a material participant?
@davidhill5988
@davidhill5988 Год назад
Based on his info yes you are materially participating from the sounds of it
@robwin0072
@robwin0072 Год назад
Thank you Toby Mathis. Excellent information. I, now, am ready to prepare a couple of clients tax returns with AirBnB situations. Kudos to you.
@TobyMathis
@TobyMathis Год назад
Excellent!
@andrewrushton4546
@andrewrushton4546 2 года назад
We have been b n b hosts for over 16 byrs in the uk - and joined air b n b approx 2016 - the research we have done shows that bn b s in the uk qualify for rent a room status and therefore can now earn up to £ 7 200 per yr tax free - no need for tax forms - this is a government hmrc scheme and they detail this on the hmrc site
@devonblaine
@devonblaine 7 месяцев назад
Exactly the video I needed right now. Thank you. Can I do a cost seg right now and apply it for a prior year?
@TobyMathis
@TobyMathis 7 месяцев назад
I'm thrilled to hear that the video was helpful for you. Regarding your question about cost segregation, the ability to apply it for a prior year depends on several factors. To provide you with accurate and personalized guidance, I recommend scheduling a free strategy session so we can provide a more in-depth answer. aba.link/yy9
@community1854
@community1854 6 месяцев назад
The best on the subject! So if the first 2 questions are yes, active participation, but it’s in a foreign country or another state so a manager is doing it is it no substantial participation by the tax payer physically, is that passive without self employment tax?
@alexanderhroma6753
@alexanderhroma6753 Год назад
Very insightful video, I watch many of the Anderson Advisors content and attended one of their workshops. Question: my short term rental is out of state but I manage it remotely (mostly guest communications and troubleshooting issues) and if I include in that the time I spent getting it ready to rent, I would say I materially participated and even more than anyone else (i.e. cleaner). Can I claim the losses as active against W2 income?
@tax-modern
@tax-modern Месяц назад
Yes. The IRS may scrutinize it a little closer if it's a property that is a significant distance away from you and you are claiming material participation, but if you logged the hours to qualify, then you certainly can qualify as materially participating in it so it can offset your W-2 income.
@djcdubb
@djcdubb 9 месяцев назад
We have remodeled a back bonus room in our home to be a stand-alone, private studio for Airbnb. With a single property such as this, is it still recommended to create an LLC for the property and lease it to a S-Corp? My wife will manage and service it, so I assume it would qualify as material participation, thus qualifying us to deduct from my W2 income? Thank you for the awesome content!
@rachealrhee8652
@rachealrhee8652 2 года назад
Hey Toby, airbnb beginner host here. How do i go about filing 1040 C? Do i need to establish an LLC? Is it something I declare while filing?
@kindnesstoall
@kindnesstoall 2 года назад
So informative... all your videos. Do you have a radio talk show?
@TobyMathis
@TobyMathis 2 года назад
We have a podcast!
@kindnesstoall
@kindnesstoall 2 года назад
@@TobyMathis thank you so much. Will search for you.
@kindnesstoall
@kindnesstoall 2 года назад
@@TobyMathis We could not find you in podcast. Searched your name. Searched tax & asset protection. Enjoy your videos though. Thanks
@rdulepet
@rdulepet 2 года назад
Terrific and informative video, and I subscribed as well. It is so timely since I just acquired single family home specifically for Airbnb rental in Los Angeles. But was curious if I use property Mgmt and they give me 1099 since they would collect rent and they would take care of all things Airbnb Mgmt based on services listed, would I loose the benefit of active income and active loss that I can discount against my other W-2 income since I am not real estate business?
@tax-modern
@tax-modern Месяц назад
There isn't a rule that specifically says that if you have a property manager, or if they report your income on a 1099, that you can't qualify for the income to be non-passive. But realistically, when you have a property manager it is much more unlikely that you will really be logging the hours to qualify for material participation. But if you do put in the hours, you can potentially still qualify.
@wendellotanael5201
@wendellotanael5201 Год назад
WHat does unique renter mean? How about if one church rents my place 1-2 days in a week?
@coacharthur9839
@coacharthur9839 2 года назад
Loved it, nicely broken down and totally makes sense. How does this work to those who only do rental Arbitrage?
@TobyMathis
@TobyMathis 2 года назад
We are glad that you enjoy our content! As for your question, that depends on a few details.
@brittanyzaborowski7938
@brittanyzaborowski7938 2 года назад
Very informative. My question is how do you calculate the depreciation? Your example was you bought a $500,000 property and claimed $120,000 depreciation. How do you calculate that number?
@TobyMathis
@TobyMathis 2 года назад
Price + Closing Costs minus land value as determined by assessor or appraisal. This is what is called the improvement value. From that, you carve out the 5, 7, and 15 year property. It is that carve out that can be bonus depreciated.
@khongcolong
@khongcolong 2 года назад
Hello toby, i want to thank you for your service to us small business owners. Your content is excellent. What asset value or income level one should have in order to use your service?
@TobyMathis
@TobyMathis 2 года назад
Thank you so much for your kind words, we appreciate you. If you are interested in our services, we offer a free strategy session to go over prices and what we offer our clients andersonadvisors.com/ss/
@robertyoung6320
@robertyoung6320 Год назад
I can't believe I understand that... So I material active.... That tax even if I'm an LLC... I don't have a big depreciation.. and how I pay myself is another issue...
@TheBatman777
@TheBatman777 2 года назад
What if the host isn’t the one rendering the cleaning services? What if you are paying a cleaner - who does pay SE taxes on their cleaning fees?
@dudewhat7738
@dudewhat7738 2 года назад
Awesome break down. Very informative, even though it was bad news for me. 😭
@TobyMathis
@TobyMathis 2 года назад
Sorry to hear that but thank you for watching
@mikieemiike3979
@mikieemiike3979 Год назад
Why even try when they're just going to take it from you. Bull shit.
@ERIC-lw2yl
@ERIC-lw2yl 9 месяцев назад
If I’m listed a co host on the Airbnb app would that count as materially participating in regards to documenting hours worked?
@TobyMathis
@TobyMathis 9 месяцев назад
IRA wants you to track the time you actually spend. Being listed as a co-host helps, but is not what they are looking for.
@cindianderson9443
@cindianderson9443 9 месяцев назад
How does it change if the property is a second home part of the year? (Passive loss exception)
@tax-modern
@tax-modern Месяц назад
If your personal use days exceed 10% of the number of rental days (and you had at least 14 days of personal use of it), then your losses for expenses/depreciation are limited to the amount of income the property generated. And so the STR exception and other techniques to use the loss to offset your regular income no longer apply. Any expenses/depreciation that you couldn't deduct to get carried forward as “carryover of unallowed expenses".
@Life76790
@Life76790 2 года назад
So question, if filing the air bnb on a sch C because the length of stay is 7 days or less, but no services were rendered, what exactly are you filing on the sch E?
@TobyMathis
@TobyMathis 2 года назад
Rental income is collected through the operation and certain expenses and deductions that may offset the income. It's the same information reported but because it is on a different schedule, it creates a different tax treatment.
@metallideth503
@metallideth503 Год назад
Great video, do you do any consulting ? If so I would be happy to pay for a tax strategy. We are considering turning out primary residence into air bnb. We have lived there about 1.5 years and it has appreciated well over 100k. So not sure what we should do
@TobyMathis
@TobyMathis Год назад
Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@edgehouse
@edgehouse Год назад
My accountant keeps trying to carry over qbi loss on my 7 day less active income Airbnb. I thought I could deduct that loss from my wife’s w2 income in the same year
@tremerefury
@tremerefury Год назад
If you are subletting a rental for an AirBNB, can you write off the Rent payments?
@TobyMathis
@TobyMathis Год назад
Thank you so much for your question! We highly recommend you join us at our next Free Tax & Asset Protection Workshop Livestream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/taptoby
@Midlife-Changes
@Midlife-Changes 2 года назад
So, if I own an airbnb in another state, even if I manage everything from my state, then I can't materially participate?
@superjohn100000
@superjohn100000 Год назад
I had the same question. I reviewed a few times and I think the scenario he was talking about was if you use a management company ..then you don't materially participate.
@vikkimichalios6320
@vikkimichalios6320 26 дней назад
I would like to list my timeshare hotel on airbnb who collects the appropriate taxes. The hotel itself will also charge for the same taxes. How does a host navigate a listing for a timeshare hotel properly to avoid double taxes
@TobyMathis
@TobyMathis 26 дней назад
To get the best answer tailored to your specific circumstances, I recommend scheduling a free consultation with my team. Visit: aba.link/yy9
@lavellnutrition
@lavellnutrition Год назад
If I purchase a home and rent to a family member can I deduct depreciation for maintenance costs?
@TobyMathis
@TobyMathis Год назад
Potentially, that would entirely depend on the type of maintenance costs in discussion and whether it will be considered a repair which is a tax-deductible expense, or a renovation which would simply increase the basis of the property.
@Simonsaysboxing
@Simonsaysboxing 2 года назад
What would this cost me to set this up. I'm buying a duplex and will be air bnb-ing one of the other units
@TobyMathis
@TobyMathis 2 года назад
We recommend speaking with one of our professionals in a free strategy session andersonadvisors.com/ss/ They could potentially be of great assistance to you.
@DanielChoTV
@DanielChoTV 2 года назад
I am an airbnb host. But my properties are in another country. I am a us resident. Do i have to pay taxes?
@TobyMathis
@TobyMathis 2 года назад
Yes. US taxed its residents on worldwide income. There are treaties and tax credits, however, that may soften the blow.
@user-sh5qv5kv1r
@user-sh5qv5kv1r Год назад
Me, thinking a casual Airbnb gig is simple. 🥴
@robertflores6319
@robertflores6319 2 года назад
Can a regular Airbnb Host that does not have a real estate license use this tax option? I was told that I cannot use this option and all my airbnb income is still subject to loss limitation.
@TobyMathis
@TobyMathis 2 года назад
Yes - the license is not needed.
@ThriveWithLouise
@ThriveWithLouise Месяц назад
Yeah but what if you have multiple properties some based internationally… tryna get my head around this but, very interesting content. I have to watch this several times to really get it
@TobyMathis
@TobyMathis Месяц назад
If you need a better understanding, I recommend setting up a free consultation with my team. aba.link/yy9
@metallideth503
@metallideth503 Год назад
What if you live out of state. But you don’t have a property manager?
@TobyMathis
@TobyMathis Год назад
Hi, could you rephrase your question?
@Lake_George
@Lake_George 2 года назад
I get conflicting advice on this for years. In my case, year one has no income since I am investing / fixing up the property. Rentals will be 7 days and I materially participate. Can I still deduct against w2 income for this year?
@TobyMathis
@TobyMathis 2 года назад
We would like to direct you to andersonadvisors.com/ss/ where you can sign up for a free 45-minute consultation. In this session, you will meet with a professional who will be able to answer your questions regarding this topic.
@tax-modern
@tax-modern 3 дня назад
You can't deduct anything related to a rental property until the tax year that you put the rental "in service" (when it is available to be rented). But those expenses from before it was placed in service can add to the basis of the property that you get to depreciate, starting on the date it is placed in service. During the years while it's in service as a rental, that's when it matters if it has an average stay under 7 days and material participation.
@MySpace777
@MySpace777 Год назад
Thank you for the amazing video! I am curious to know how the process applies to US citizens who own an Airbnb property abroad while living overseas. Can you also please guide me on the appropriate tax form to use and whether it is eligible for FEIE? Thank you
@edranoemillacalles2610
@edranoemillacalles2610 11 месяцев назад
What if I have a housekeeper to do the cleaning?
@TobyMathis
@TobyMathis 11 месяцев назад
I recommend reading this article on my blog, it talks about this matter: andersonadvisors.com/short-term-rental-tax-deductions/
@erikbrown8688
@erikbrown8688 2 года назад
Can you put your Airbnb in your non profit for income
@TobyMathis
@TobyMathis 2 года назад
You can, but do need to be careful that you do not create UBIT from the active income if the average rental term is 7 days or less. Might be smart to transfer the RE into the 501c3 and lease it long (annually) to an entity that acts as the host.
@Hank_Alemany
@Hank_Alemany 2 года назад
If I’m not mistaken. You said if you live there more than 10% of the year you don’t have to report it? I run an Airbnb out of an addition to my house. And it is rented on average 2 months per person. I was assuming “rental income” because all I have done is furnish the place and have it cleaned before and after then manage in between (toilets, light bulbs etc.). But about 27:00 in the video I believe you said Briefly my situation may not warrant reporting income
@TobyMathis
@TobyMathis 2 года назад
You still report the income:-)
@godnestgodest6265
@godnestgodest6265 2 года назад
Airbnb still report any income you make to IRS even if you don't report it, so be careful, hope this helps 👌
@chelsearodriguez919
@chelsearodriguez919 8 месяцев назад
More on a corporation pls
@TobyMathis
@TobyMathis 8 месяцев назад
Thank you for the suggestion. 👍
@golfprogress
@golfprogress 10 месяцев назад
I liked it, but it did seem like you contradicted yourself on schedule C verse schedule E if the rental average is seven days or less. Early in the video you said if the average term is seven days or less that is trade/business and not rent. Then, later in the video, you said, if there are no substantial services, you would not use Schedule C, but you would use schedule E. But schedule E is just rental activity so there’s a contradiction.
@TobyMathis
@TobyMathis 10 месяцев назад
You can use either. The issue is whether there is SE tax on the STR profit - there is a split as you could pay on either Sch C or E. Either works as far as I can tell.
@tax-modern
@tax-modern 3 дня назад
I haven't seen that earlier video you mentioned, but 7 days or less is completely unrelated to whether it goes on Schedule E or C. The *only* factor in choosing C or E is whether you provide "substantial services", which are things like *daily* cleanings, meals, or entertainment during guest stays. That's very rare, that's not what most Airbnb owners do. 99% of rentals go on Schedule E. The 7 days or less + material participation topic has to do with how the rental losses are treated on form 8582, which is something completely different.
@rcruz401
@rcruz401 2 года назад
Can my spouse qualify for real estate professional if her and I are 50% partners in a C corp (Management rental company) and she meets the hour requirements? We are not married, and she fills her personal returns as single.
@TobyMathis
@TobyMathis 2 года назад
If you are not married filing jointly, then she would need to meet the criteria individually. But, yes, she can.
@vincentanguoni8938
@vincentanguoni8938 2 года назад
Wow... No wonder Americans are bonkers!!! Gonna get a little funky he says!!! Yikes.. I was in the tourist rental business before the"sharing economy" we shared with the NY times.. The Boston globe.. Newspapers in the northeast. I spent 5 to 7 percent on advertising.. 50 percent deposit for reservation. The remaining 50 percent upon arrival..at some point that changed and we required the other 50 percent 30 days before arrival.. People had started arriving saying they only wanted to stay for half the week.. They were almost all weekly.. Saturday to Saturday.. There were no walk-ins.. Everything had to be rented in advance.. The advent of Airbnb was certainly good for tourists.. Not so good for us owners. And we did not worry about level of services or tax bs.. Clean and friendly... So that's how it worked not so long ago..
@nicholasshook7513
@nicholasshook7513 Год назад
In conclusion: file schedule c
@tax-modern
@tax-modern 3 дня назад
No, almost all rentals go on Schedule E, almost never Schedule E. The only exception is if you provide daily cleanings, meals, or entertainment during guest stays. That's very rare, that's not what most Airbnb owners do. 99% of rentals, including short term, go on Schedule E.
@mimimusama9418
@mimimusama9418 2 года назад
🥂🧚🧚🙏
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