Report the depreciation of rentals on Form 4562: Depreciation and Amortization. What are passive activities and how do they affect me? As a general rule, rental properties are, by definition, passive activities and are subject to the passive activity loss rules. These rules are quite complex. ...
Airbnb has agreed to start remitting hotel taxes to the city of Los Angeles on behalf of its hosts in the area, the company said on Monday. As part of the deal, the home-sharing company will collect lodging taxes from its Los Angeles hosts and hand the proceeds over to the city, ...
If your rental house is foreclosed on, the IRS views it as a sale. This requires you to report the gain or loss you incur on your tax return. However, the foreclosure increases the complexity of the transaction for tax reporting purposes since you must consider other factors, such as...
Owners Seizing Airbnb Opportunity ; Short-Term Rentals May Get Rules, TaxesRocheleau, Matt
City councilors of the popular Scottish destination have approved a5% tourism feethat would go into effect in 2026. It would be the first city in Scotland to implement a visitor levy. The tax would apply to those paying to stay in hotels, bed & breakfasts, hostels, and AirBnb rentals,...
Airbnb has over a thousand Singapore-based listings on its site, while Roomorama has about 500. According to HDB, though, “transient subletting” is illegal in Singapore.A reportstates that HDB has investigated over 184 cases of short-term rentals in public flats over the last year. Meanwhi...
If you earn money through the sharing economy – for example by renting out a spare room on Airbnb or delivering food with Deliveroo - you will need to declare this revenue for tax even if it is not your main source of income.Your tax obligations will differ depending on whether you ...
THE IMPACT OF AIRBNB ON A NON-TOURISTIC CITY. A CASE STUDY OF SHORT-TERM RENTALS IN SANTA CRUZ DE TENERIFE (SPAIN) Short-term rentals such as Airbnb have become a persistent element of today's urbanism around the globe. The impacts are manifold and differ depending on t... FRJ Huebsc...
‘By focusing property tax reductions on primary homes and long-term rentals, tax relief is provided to Montana residents. Increasing the tax on second homes, non-resident homes, and short-term rentals helps pay for the decreases in taxable value for other residential properties without that tax...
Video streaming service Netflix Inc and home rentals company Airbnb did not immediately respond to requests for comment. Mexico's 2020 draft budget, which Herrera was discussing, states that digital platforms could have their connections cut if they do not register with local tax author...