Do I need to be setting aside taxes from payouts?

[Kristin1257]

I live in Columbus, Georgia. Airbnb collects and remits occupancy taxes on my behalf. With that, does anyone know if I should be setting any additional tax money aside from my payouts or would those already be taken care of? I do have a business license to run my listing in my city, so not sure if that affects anything in this. Thank you!

[Lorna170]

@Kristin1257   While AirBnB is collecting and remitting the local occupancy taxes, you need to be aware of how your earnings will be reflected in your annual federal and state income tax returns and what you will owe on the additional income.   A consultation with a tax accountant may be useful if you cannot determine how much those taxes will be on your own.

[Kristin1257]

@Lorna170 Okay thank you! I figured I would need to end up having a conversation with my tax guy.