If you’ve been in the car-renting space for a while, you should have known that the money earned from renting your car on peer-to-peer car rental platforms is taxable. The good news, however, is that you can deduct depreciation and other related expenses. Here are some IRS rules regarding  car rental income and deductions; IRS… Read More

Running a short-term rental apartment is not completely a walk in the park, especially when taxes are considered. If you own an Airbnb rental home in the New York City Tri-State Area (New Jersey and Connecticut), then you are expected to pay Municipal taxes. The Tri-state area is a bustling, metropolitan region, so short-term rental… Read More

Why use nontraditional lodging while traveling? Technology has an undeniable impact on the development of the hotel industry. Also, the hotel industry is undergoing rapid transformation due to digital innovation. Studies reveal several reasons millennials travel. That opens fresh ways to save costs and enhance the guest experience. However, one development is gaining a more…… Read More

Airbnb serves two fantastic purposes in the travel industry. First, it allows people to obtain a comfortable, private, and affordable place to stay anywhere in the world. The second benefit is that it enables individuals to escape the enormous, crowded, busy resorts that are typical of summer holidays. Although renting out your home or bedroom…… Read More

Why Should Car Rental Hosts Record Mileage? Keeping records of mileage is an important part of maximizing your tax savings as a P2P car rental host. By keeping accurate records of your mileage, you can effectively reduce your taxable income and save money on your taxes. You can decide to deduct either your actual expenses…… Read More

by Funimilayo Oladipo Photo from Pixabay The rise of the sharing economy has revolutionized the way we travel and experience new destinations. Peer-to-peer platforms like Airbnb and Vrbo have emerged as popular choices for short-term rentals that offer unique opportunities for individuals to become hosts and generate income from their properties. However, along with the…… Read More

Do’s & Dont’s of Car Sharing By Anonymous TextBroker Writer Before you start hosng a car-sharing vehicle, you should know a few things. The first thing to keep in mind is that by hosng a car-sharing vehicle on your property, you are assuming all liability for it. This illustrates that you are responsible for paying…… Read More

By Natasha As a host on Vrbo, there are certain municipal taxes you are expected to pay depending on where your property is located with the New York City Tri-state area. The Tri-State area is a bustling area with a lot of major cities, so the tax expectation for short term rentals in these locations…… Read More