Airbnb Hosts Among Biggest Winners Under New Tax Laws, Per New Nolo Guide

Latest edition of Nolo Press' 'Every Airbnb Host's Tax Guide' provides plain-English advice to help short-term rental hosts navigate tax issues

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Feb 05, 2019, 07:00 ET

BERKELEY, Calif., Feb. 5, 2019 /PRNewswire/ -- Airbnb and other short-term rental hosts are among the biggest winners of the new tax law, according to Every Airbnb Host's Tax Guide (2nd Edition), available now from Nolo Press.

Since publication of the first edition of the Tax Guide in 2017, Congress enacted the Tax Cuts and Jobs Act (TCJA), the most far-reaching revision of the nation's tax laws in a generation.

The TCJA affects all Americans, including the over 600,000 who earn extra money renting out their homes, condos, apartments, and rooms to short-term guests through Airbnb, FlipKey, HomeAway, TripAdvisor, Craigslist, VRBO, and other online platforms.

Every Airbnb Host's Tax Guide (2nd Edition) has been completely revised to reflect how the TCJA impacts—and can benefit—Airbnb and other short-term rental hosts.

As expert tax author Stephen Fishman explains in the newest Tax Guide, the TCJA gives many hosts a brand new tax deduction: the "pass-through deduction" that allows many short-term hosts to deduct, from their income taxes, up to 20% of their short-term rental income. However, this new deduction can be complicated, and some hosts may not qualify. Every Airbnb Host's Tax Guide (2nd Edition) includes an entirely new chapter explaining how hosts can make sure they can utilize this valuable deduction.

But the TCJA's tax goodies for Airbnb hosts don't end with the new pass-through deduction. Every Airbnb Host's Tax Guide (2nd Edition) also illustrates:

How the new law makes it easier than ever before for hosts to fully deduct in a single year the cost of property they purchase for their rental activity, such as furniture or appliances
How short-term hosts can avoid the TCJA's new limits on deducting property taxes
How the new law may allow hosts to deduct repairs to their rental property

Every Airbnb Host's Tax Guide (2nd Edition) also continues the first edition's legacy of providing—in plain English—the essential tax information all short-term rental hosts need to know, including:

The tax deductions short-term rental hosts should be taking
How to report short-term rental income
How to deduct losses
Information on vacation home and tax-free rentals
How to allocate costs when renting a room in one's home
How to keep proper records

The title is currently available for purchase in print at major bookstores or online at Nolo.com, where it can also be downloaded as an ebook.

Vital Statistics
ISBN: 9781413325515
Price: $19.99 USD

About the Author

Stephen Fishman has dedicated his career as an attorney and author to writing useful, authoritative and recognized guides on taxes and business law for landlords, small businesses, entrepreneurs, independent contractors, and freelancers. He is the author of over 20 books and hundreds of articles. Among his many Nolo books are "Every Landlord's Tax Deduction Guide," "Deduct It! Lower Your Small Business Taxes," and "Home Business Tax Deductions: Keep What You Earn." He has been quoted in The New York Times, Wall Street Journal, Chicago Tribune, and many other publications. He is a graduate of the University of Southern California School of Law and makes his home in the Pacific Northwest.

About Nolo

Nolo (www.nolo.com) is a leading provider of plain-English legal information and products for consumers and businesses. A subsidiary of Internet Brands, Nolo focuses most of its efforts on its award-winning websites, which feature extensive free content, online tools, and a consumer-friendly lawyer directory. Nolo also develops market-leading software, online legal forms, as well as print and e-books.

Nolo was founded in 1971 by two legal aid attorneys who set out to demystify the law for people who couldn't afford lawyers. Since then Nolo has produced more than 20 million plain-English legal guides across all areas of the law.

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SOURCE Nolo