@JJD It specifically states AND.
I think it’s $600 with any number of transactions not $600 for a single transaction.
You know you can just look under performance and earnings (on the website, not app) and see what it was (rounded to the whole $) for each year there, right? A report isn’t needed.
I’m not because I have a pension from which I can withhold the taxes. I typically get a refund when I do my taxes.
No I’m not, I am aware of the difference.
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@Atlnative My apologies then. Sorry.
That is the effectively the same. You are not waiting until tax day to pay taxes.
When I’m doing contract jobs but also have some W2 hours, I don’t pay quarterly either because the W2 withheld taxes cover it. But if someone doesn’t have a source of income that is withholding taxes throughout the year, then they need to pay quarterly. Taxes are due as you make the money, not after.
You can adjust the withholding on your pension so that you don’t get a refund. A refund means that the feds are using your money to make money instead of you doing that.
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I never got a 1099 because I was below the limit although I asked for one.
They make a big splash about who gets one and who doesn’t, because paperwork. I’ll put 20 down on them raising the host service fee to cover the extra cost of all the additional 1099s next year.
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What? It costs a few cents to have a computer print out a one sheet form, stuff it in an envelope, and mail it.
I do not use the airbnb website for anything, all of my bookings go through my channel manager and I can run reports there.
RR
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Yes, I know and I typically change my withholding once or twice a year. But I also don’t want to owe at the end of the year. Thing is, I don’t know how much I’m going to make each year on dog boarding and airbnb.
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@KKC Ditto. I never got a 1099 from DogVacay or Rover either. I imagine that once that begins in 2022 that petcare providers on Rover will begin dropping off around April 14th, 2023…
Only tax cheats would drop off. If one reports taxable income as required by law now I don’t see a big change. Besides, anyone basing their business on Rover is paying an arm and a paw in fees so they should have already been working on moving their business off Rover so they can afford their taxes.
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Yes, and I would say based on the ridiculously low prices very few have been reporting the income. I am the highest one that actually seems to get bookings (or reviews at least). Most are kids and stay at home moms that call it spending money.
I’ve been looking on Rover lately to find someone who can come check on my dogs or possibly housesit as I ramp up my travel plans over the next few years. In my town the number of hosts has exploded but there are also multiple hosts with reviews that have much higher prices than I do and overall the prices have gone up. It inspired me to raise my prices for the first time since I started. Though I’m generally not competing with people on Rover any longer, just like Airbnb, people will pay more to get good service and reviews.
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There are a lot of tangential statements here. It confuses me. So bottom line,
- Do we have to do this in order to keep Airbnb from withholding 30%?
- If we do this we will receive a 1099 (assuming we are over the income minimum earned and have not been receiving them already?
Thank you.
Yes. The IRS requires this.
Yes.
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Thank you. Lastly, Can I put in a mailing address or does it have to correspond with the location of the str?
It’s linked to your profile.