Yesterday, Revenue eBrief No. 59/18 was published. This comprehensive nine-page document outlines the tax treatment for income arising from the provision of short-term accommodation:
A short-term letting is defined as a letting of all or part of a house, apartment or other similar establishments:
– As a tourist, holidaymaker or other visitor
– For a period which does not exceed or is unlikely to exceed 8 consecutive weeks
This is the final article in a five-part series on Passive Activities. (To read the previous articles, click the following links: Part 1, Part 2, Part 3, and Part 4.)
You own a beach cottage or a mountain cabin. As much as you would like to live there year-round, it just is not practical, so you rent it out when you are not using it. Is this taxable income? Can you deduct a loss? As with so much in taxes, the short answer is “it depends.”
Spotlight Interview: Chuck Levun On Educating CPAs And Attorneys On Partnership, LLC, and S Corporation Flow-Through Planning On Four Costly Business Mistakes They Make (Part 1)
Navigating A Sales Tax Audit: A Comprehensive Guide To Protecting Your Business
Citizens Against Government Waste: The Prime Cut Series (#5)
How To Receive Your R&D Payroll Tax Credit
IRS Form 8938 (Statement of Specified Foreign Financial Assets): Reporting Requirements Overview
Recent Comments