Want to open up an Airbnb in the City of Greenville, SC? Why not? It’s a beautiful small city and the area is growing rapidly. Just make sure you follow the City of Greenville, SC Rules and Regulations for Short Term Rentals.
This is a very helpful video explaining how Airbnb income might be taxed. Everyone’s situation is different and Airbnb income is different than rental income many are familiar with from residential investment properties. I am not giving tax advice. Please seek your own tax counsel if you have questions about how rentals or Airbnb’s are taxed. You might even want to reach out to Toby Mathis who produced this video.
In the video he discusses using cost segregation to increase your depreciation and lower your income tax liablity. I can help you with that. I represent Cost Segregation Services, Inc. and work with building owners and investors all across the country to help them with accelerated depreciation / bonus depreciation that helps them increase their cash flow and lower their income tax.