Anderson Business Advisors Podcast

https://feed.podbean.com/andersonadvisors/feed.xml

621.7K

Downloads

342

Episodes

Real Estate Investors, Stock Traders, and Business Owners guide to preserve their wealth, protect their assets, and prosper in the future.

Episodes

Tuesday Jan 25, 2022

Calculating Airbnb Taxes from One Room

Tuesday Jan 25, 2022

How are taxes calculated when renting only one room in your home for Airbnb? How are the expenses calculated, such as cleaning fees, lawn care, pest control, maintenance, snacks, and other amenities offered to guests?

In this episode of Tax Tuesday, Toby Mathis and Jeff Webb of Anderson Advisors discuss calculating Airbnb taxes and answer additional tax-related questions.

Submit your tax question to taxtuesday@andersonadvisors.

Highlights/Topics:

What are your thoughts on using a nonprofit that is funded with cryptocurrency? The cryptocurrency will need to be converted to cash and appraised when donating it.
When purchasing a self-storage facility, should it be in it’s own LLC and can it be combined in an LLC that already has a property within its entity? It’s recommended to put it into two LLCs: Property in one and business in the other. Always separate them.
How are taxes calculated when renting only one room in your home for Airbnb? How are the expenses calculated for amenities offered to guests? Depends on if it is a rental or for a business. There are two kinds of expenses that need to be calculated - direct (only applies to specific rental space) and indirect (utilities, mortgage interest, homeowners association fees, etc.).

For all questions/answers discussed, sign up to be a Platinum member to view the replay!

Go to iTunes to leave a review of the Tax Tuesday podcast.