Tax questions.

Bob-And-Christy0
Level 2
Boca Raton, FL

Tax questions.

How do we collect from our renters?

Do we report our income or does ABnB do that?

All very new as our county just began collection. 

Thanks!

Christy

Boca Raton Fl

1 Reply 1
Cheryl389
Level 7
Keyport, NJ

Airbnb likely collects local taxes. I'm in Atlantic City, NJ, and they remit the luxury tax for me. They also take out sales tax. Income tax is different, and should be reported on your yearly taxes. In some cases, it might be good to file quarterly as a business expense. This would likely be a 1099 form you would use if you are a sole proprietor, and run it as an individual rather than a business.