Does anyone who hosts airbnb have or recommend getting an accountant?
We use a tax accountant.
Depends on your circumstances
My husband and I just opened up our Airbnb. We only own one home. The house is in Washington and my brother in law is living there and managing it as a shared home.
We’re in Texas, and have never run any sort of business and wasn’t sure if an accountant was worth it?
I think if you have multiple sources of income it would be worth considering perhaps. Other U.S. can probably advise better on this.
Your brother in law would of course have to account for and pay his taxes separately on any income they generate as a co-host.
Welcome to the world of Airbnb.
It might be worth it at least the first year. You’ll need the figure out how to calculate the expenses that aryou deductible from those that are not. Sinceca relative is living there full time, the IRS will consider all the expenses attributable to him as non-deductible.
After the first year, you’ll probably be able to do it yourself unless the tax laws change