How Do Short-Term Rentals Operate in Your City?

The city of Austin decided that a cut from all short term rentals should be paid to the city. This is not a new trend and many other cities around the U.S. charge the same kinds of fees and taxes. It pays to look more closely into the cities you visit when deciding if you’ll be staying in a short term rental (AirBnB, VRBO) or hotel. Some of the city costs may actually affect your decision. For more resources on Austin and the fees they charge, visit the sites below.

Short-Term Rentals

Ever thought about renting your home for holiday travelers or summer vacationers?  Or maybe during a music festival or race?  There are tax implications that come with this type of real estate.  Before you take the plunge, read this informative article by Mike D’Avolio, CPA, J.D. for the Journal of Accountancy.

Short-term rentals, the sharing economy, and tax