SALT Taxation of Short-Term Rentals: Airbnbs, VRBOs, Personal Residences, and Other Home-Sharing Arrangements
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This webinar will discuss the numerous taxes charged by states on home-sharing arrangements. Our panel of SALT experts will discuss the types of taxes imposed, registration requirements in certain states, reviewing the calculations of marketplace facilitators, specific requirements in certain states, including New York and California, and federal taxation of these short-term rentals.
Outline
- Taxes on short-term rentals: an introduction
- Federal tax issues
- 14-day exception under IRC 280A
- Reporting, Schedule C or Schedule E?
- Self-employment tax
- Occupancy and other jurisdictional taxes
- Marketplace vendor laws
- Registration requirements
- Specific state rules
- New York
- California
- Other states
- Examples
- Best practices
Benefits
The panel will cover these and other critical issues:
- Taxation of short-term rentals in New York and California
- The impact of marketplace facilitator rules on Airbnbs, VRBOs, and other rentals
- Registration requirements in specific states
- Federal tax rules for short-term rentals
Faculty
Tri Hoang
Director
Marcum
Mr. Hoang is a principal in Marcum’s Tax & Business Services practice. He has more than 15 years of... | Read More
Mr. Hoang is a principal in Marcum’s Tax & Business Services practice. He has more than 15 years of experiences focused on state and local tax matters, including income/franchise taxes, gross receipts taxes, sales & use taxes, excise taxes, and property taxes. Mr. Hoang has spent the last decade focused on state and local tax due diligence and advising clients on state tax issues in M&A transactions. He also has significant experience in tax controversy, managing large tax compliance engagements and helping clients secure significant credits and incentives.
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Jeffrey S. Reed
Partner
Kilpatrick Townsend & Stockton
Mr. Reed chairs the firm's State and Local Tax Practice. He helps tax directors, business owners, and individuals... | Read More
Mr. Reed chairs the firm's State and Local Tax Practice. He helps tax directors, business owners, and individuals manage state and local tax risks and exposure, including assessing the strength of corporate tax positions, evaluating whether charges are subject to sales tax, and representing taxpayers in disputes with revenue agencies throughout the U.S. He brings a practical, pragmatic approach to state and local taxation, one that takes into account reserve considerations, legal and administrative guidance, and anticipated revenue agency responses. He is particularly experienced with New York and Massachusetts tax controversies, corporate tax planning, assessing the anticipated state tax consequences of mergers and acquisitions, and analyzing the taxability of electronic commerce and emerging business models. He has resolved disputes with most tax agencies in the United States, and also has broad experience with IRS audits and appeals, and unclaimed property.
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