The complete tax guide for Airbnb and other short-term rental hosts
As a short-term rental host, you’re entitled to many valuable deductions and other tax benefits. This book—the first of its kind—shows you how to pay no more tax than necessary on your rental income while complying with IRS rules.
Learn everything you need to know about taxes, including:
what deductions you should be taking
how to report your short-term rental income
how to deduct losses
vacation home and tax-free rental rules
how to allocate costs when you rent a room in your home, and
how to keep proper records.
Whether you rent your property through Airbnb, Flip Key, Home Away, Trip Advisor, Craigslist, or VRBO, you want to make sure you understand these tax rules. That way, you can rest assured you are making the most out of your hosting business without risking problems with the IRS.
All the information in the book remains up-to-date for the 2017 tax year. The changes brought about by the Tax Cuts and Jobs Act all take effect in 2018, except for an increase in bonus depreciation which took effect September 27, 2017. Anyone who purchases the book has access to an update page on the Nolo website specific to this book which explains the 2017 bonus depreciation change and summarizes how the new tax law affects small business owners’ taxes for 2018 and later. A new edition of the book, completely updated for the new tax law, will be published August 1, 2018.
Mục lục
1. Introduction: Who This Book Is For
2. How Short-Term Rental Hosts Are Taxed
3. Tax-Free Short-Term Rentals
4. Deducting Your Expenses: The Basics
5. Operating Expenses
6. Repairs
7. Deducting Long-Term Assets
8. Prorating Your Deductions
9. Reporting Rental Income on Your Tax Return
10. Filing IRS Form 1099 Information Returns
11. Deducting Losses for Short-Term Rentals
12. Record Keeping
Index
[Checklist about the various tax deductions available and how to deduct losses.]
Giới thiệu về tác giả
Stephen Fishman is the author of many Nolo books, including Deduct It! Lower Your Small Business Taxes, Every Landlord’s Tax Deduction Guide and Home Business Tax Deductions: Keep What You Earn—plus many other legal and business books. He received his law degree from the University of Southern California and after time in government and private practice, became a full-time legal writer.
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