Taxes

[Michael5901]

Hi. I am new to Hosting. In Ontario, Canada.

Does anyone have suggestions on how to claim Airbnb income? It's a family cottage. Both my parents are retired. So if they were to claim, they would get hit with high taxes because of their low pensions. If I claim, then I pay the taxes, but I don't get full use of the earnings as they are split for cottage expenses.

I have heard of opening a corporation so that I can claim under that and it's just a number. Not sure how that works.

Any help is greatly appreciated.

Thank you,

Mike

[Donna1180]

Do you also have to send the sales tax amount separately to the state or everything is file on your income tax with schedule C or K1 form I think

[Cathy961]

Do I have to give any tax information if i have not hosted ever although I have an account 

[Crystal431]

New host here and curious about managing the property rather than owning. Who provides the tax info if Airbnb pays out the manager and the manager than pays the property owner after taking their fee? Any help would be appreciated. 

[Patricia3574]

Hello this is a good question have you received the answer?