“Transient occupancy tax” is paid on temporary lodging at hotels, motels, inns, hostels and similar places. If you rent out your home, or a portion of your home, through a service such as Airbnb, HomeAway or VRBO, the tax probably applies to your situation, too.
It’s the lodging operator’s job to collect the tax and pay it to the government. For details, see the full TurboTax article.
Who couldn’t use a little extra income on the side? Short-term vacation rental companies like Airbnb and FlipKey help you find guests to rent that spare bedroom and earn some cash. But, as in any business venture, it’s best to figure out the tax implications before you jump in. See the full TurboTax article for details.
With the rising popularity of Airbnb and other vacation rental companies, more and more people are renting their homes and learning about a new set of tax issues that come with it. When you offer your home, or a room in your home, as a short-term rental through services such as Airbnb, HomeAway, VRBO, FlipKey and many others, you can keep your income taxes to a minimum—and sometimes eliminate them entirely—if you follow some of the useful tax tips in the full TurboTax article.
Are you renting out your home through services like Airbnb or FlipKey?
If the answer is yes, this video from the TurboTax Team has some tax tips you should consider as a rental host.
For more tips and information on your taxes when renting out your home, visit the TurboTax website.
When you offer your home, or a room in your home, as a short-term rental through services like Airbnb, you can keep your income taxes to a minimum, sometimes eliminate them entirely.
Learn 10 tax tips for Airbnb, HomeAway & VRBO vacation rentals from TurboTax.
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