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AirBnB helps with the heavy lifting...

As of February, 2017, AirBnB will collect and remit all taxes on your behalf.
So, how does this work? First, you will need to set up a tax account to associate with your listing. This will require an EIN number if you have a LLC, or your social security number if you do not. With every reservation made through www.airbnb.com, they will deduct the applicable taxes from your payout and remit them quarterly to the city and state. You can see the deduction of these taxes in the transaction history of your hosting dashboard. At the end of the year, they provide you with a tax document that outlines what has been collected and you are ready to file!
While other sites like vrbo.com have partnered with companies like Avalara to collect and manage STR related taxes, the fact that AirBnB does it automatically and at no additional fee, obviously gives them a leg up. Happy hosting!


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