Tax Implications of Renting Your Property Through Airbnb and Other Online Platforms

Many property owners rent out their properties to their tenants through long-term traditional rentals. However, the introduction of online platforms such as Airbnb and VRBO have made it very easy for property owners to rent their properties to guests for short-term stays which can provide significantly more income than traditional long-term rentals or can simply provide supplemental income when their property might otherwise be vacant. Income tax and sales tax implications must be considered before renting properties using these online platforms as there can be significant tax implications in doing so.

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