Updated about 3 years ago on . Most recent reply
Airbnb/VRBO Remit Taxes?
I'm a bit confused but what it means for these companies to remit taxes on your behalf. Does this mean that I do not need to save an additional 30% in a separate tax account? Can someone explain what remitting taxes means and if I should be saving separately as well please.
Thanks!
Most Popular Reply
They pay the lodging taxes for you. So when you stay at a hotel you have the nightly rate, then you have a sales/ lodging tax you will pay. Airbnb/VRBO collected and sends this for you(in most cases). They do not collect money that is used for income/ corporate/ self employment taxes.