Tax Warrior Chronicles

NJ’s ‘Airbnb Tax’ Updated to Help Owners

Posted on Tue, Aug 13, 2019

By: Ashley Menders

 

Some property renters no longer need to fret about New Jersey’s ‘Airbnb Tax’ while soaking up the sun at the Jersey Shore anymore! Since New Jersey implemented its new tax that impacted all short-term rentals last October, Governor Phil Murphy has signed a bipartisan bill to undo part of this major ‘Airbnb Tax.’ Here’s who is no longer affected…

 

As mentioned in our previous blog detailing the ‘Airbnb Tax’ that adds a huge 11.6% tax on short-term rentals, this new bill takes a weight off many shore renters’ shoulders. Previously, this new tax was on any short-term rental of less than 90 days. The only exception was if the property was listed with a real estate agent

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‘Airbnb Tax’ in NJ Hits Shore Renters Hard

Posted on Tue, Jun 25, 2019

By: Ashley Menders

 

It’s finally summertime, and do you know what that means? It’s time for a little “Gym, Tan, Laundry” as the crew from MTV’s Jersey Shore always said. Let’s soak up the sun, play some carnival games, and walk the boardwalks. But, before you book the perfect apartment or home down the Jersey Shore, you might want to know about a new tax on short-term rentals this year…and it’s a big one!

 

As of October 1, 2018, New Jersey implemented a law adding a so-called ‘Airbnb Tax’ to short-term rentals. Don’t let the name fool you though, this tax is not just on rentals through Airbnb. The booking of the rental doesn’t even have to take place online. The new ‘Airbnb Tax’ is

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The Tax Ins and Outs of Short-Term Rentals

Posted on Mon, May 22, 2017

By: Adele Kilgus, CPA

 

Summer is quickly approaching, which means weekend getaways for fun in the sun. If you are looking for extra income to fund your relaxation time, you might rent your home to summer travelers while you are out of town. Airbnb, HomeAway, and other similar services make the process of short-term renting much simpler by handling all booking and collecting of payments. However, even with the added simplicity, there are still some important tax implications to consider. With proper planning, you can maximize your extra income and minimize any extra tax liability.

 

Renting for less than 15 days per year

Good news! If you are only renting out your place a few weekends a

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The Taxation of the “Uber” Economy

Posted on Tue, Jan 24, 2017

By: Stephanie Otake, CPA

 

Making extra cash with Uber or Lyft has become a popular pastime, but make sure you consider the tax implications that come with it.  In this blog post, we’ll pose and answer common questions of those taking part in the so-called “sharing economy.”

 

By now, most have either heard of Uber or Lyft, or have used them. The ride-on-demand service from our cell phones has become a formidable competitor to the taxi cab industry. Many people are taking advantage of these online platforms to make money using their personal property—in this case, their car. Receiving income by providing services from these activities is taxable and must be reported to the IRS.

 

As an

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