STR Management and Taxes

[Jerry Zigounakis]

Hi all this was my first year hosting a STR and there has been a lot of growing pains and learning as I go. As we are entering tax season I am wondering what Expenses I can write off and if I need A 1099 for my Co manager who contracts out the cleaning team that I am essentially paying for? I located in CA.

[Collin Hays]

Quote from @Jerry Zigounakis:

Hi all this was my first year hosting a STR and there has been a lot of growing pains and learning as I go. As we are entering tax season I am wondering what Expenses I can write off and if I need A 1099 for my Co manager who contracts out the cleaning team that I am essentially paying for? I located in CA.

I am not an accountant, but...

Your STR is a small business. Every reasonable and necessary expense can be deducted. Travel, training, repairs, maintenance, dues, credit card fees, etc. Some expenses are considered capital improvements and will need to be amortized. Anyone that you pay that earned over $600 in the calendar year, you will need to issue a 1099.

Ask your accountant for more details.