Airbnb Taxpayer Information Section of the Portal

[Jean118]

I've reached out to my tax advisor about this but wanted general feedback. 

Being that I work fulltime and doing Airbnb is a side gig - - I have enlisted property management since JAN of this year (hosting side only plus providing cleaning crew - -I pay all expenses related to property taxes, maintenance, utilities, etc) - - On the attached pic they have their LLC listed - - but there is room to add more

Is it advantageous to have add my taxpayer information their also ?  I just want to make sure I will still be able to write my expenses off. . 

Jean

[John2406]

@Jean118 Hi there. I don't know how Tax calculations  work in the USA, but over here in the UK there's a range of items for which one can claim, and other items one cannot (until you sell the property)

Your Tax Advisor should be able to advise you what you will and won't be able to claim for, whilst the property management company should be able to let you have a breakdown of what they're charging you.

Although depending upon how complicated or not your income from holiday lettings is, you might find that an accountant would be better for you than a tax advisor, as accountants' not only account, but they usually know all of the ins and outs of Tax Forms, requirements, etc.

Okay, so going through an Accountant might be more expensive $s-wise than doing it yourself, but then again, they're more likely to get everything right, might be able to claim for other items you hadn't considered, might even save you money, but most of all, if you're not used to the intricacies of completing Tax Returns for doing what you're doing and you don't get your sums right, you might have a tax inspector (or equivalent in the US) digging more into your financial affairs.

Whatever you decide to do, here's wishing you the best of luck!