Bookkeeping

TurboTax simplifies the process, whether you want to do your taxes yourself or get expert help. Let’s consider an individual who has a taxable income of $350,000 in Massachusetts state. This individual would qualify for the $4,400 standard deduction, reducing his or her taxable income to $345,600, putting them in…

Rental income to report on your taxes will be your “gross earnings.” This amount is calculated based on payouts before any fees or refunds are taken out. Your reported income will be higher than your Airbnb payouts, and the difference will be made up by deducting expenses on your tax…