Is it even worth it? Taxation treatment of in-home hosting activities.

[Veronica11]

hi , help needed , i live in ireland .... my tax lady said to ring my accountant about how much tax will be on my earnings from airbnb but she said it would not be worth it as it would cost me a fortune , is this true ??? trying to get information is hard , any help greatly appreciated 

[Linda108]

@Veronica11  As I am in the US, I do not know your tax laws.  I do know that pricing must take into account all the expenses of having income from a rental business.  Under US income tax laws, I am able to deduct both direct expenses such as linens and breakfast foods and indirect expenses such as a portion of my mortgage, insurance and utilities.  Those deductions offset some of the income.  Speaking with your accountant is a very good idea for ANY business.  Good luck!!