Virginia Taxes

[William1705]

Roughly what percentage of income should I be setting back to make sure I cover the gross income off the Airbnb at the end of the year for taxes. I want to make sure I have enough set back to pay what is needed come tax time.

[Sybe]

Hi @William1705 , have you found an answer to your question yet?

It might be worth asking in one of the local Host Clubs near you! You can find them here: https://community.withairbnb.com/t5/Get-Local/ct-p/en_clubs 

I hope that helps 😃

[Lorna170]

@William1705 @What federal and state tax bracket did you fall into last year?  Is your income for this year about the same, or will it potentially push you into the next higher bracket?  Keep aside the amount of your tax bracket, and keep records of the expenses that will reduce the tax obligation.