REI Tip: Top 5 AirBNB Tax Deductions

Disclaimer: this is not tax advice or financial advice. This is for educational and entertainment purposes. You should seek professional guidance from a licensed professional when dealing with your finances.

As an Airbnb operator, you may be able to take advantage of certain tax deductions. Here are the top five:

1. Advertising and marketing expenses: You can deduct any money you spend on advertising and marketing your Airbnb listing. This includes things like online ads, print ads, and even flyers or business cards that you hand out.

2. Cleaning and laundry expenses: If you hire someone to clean your rental property between guests, you can deduct those costs. Additionally, any laundry expenses (including detergent, fabric softener, etc.) can also be deducted.

3. Repair and maintenance expenses: Any money spent on repairing or maintaining your rental property is deductible. This could include things like fixing a broken window, painting, or repairing a leaky faucet.

4. Property insurance: You can deduct the cost of any property insurance you have on your rental property. This could include things like fire insurance or liability insurance.

5. Mortgage interest: If you have a mortgage on your rental property, you can deduct the interest payments from your taxes. This can be a significant deduction, so be sure to take advantage of it if you can.

These are just some of the deductions you may be able to take as an Airbnb operator. Be sure to talk to your accountant or tax advisor to see if you qualify for any of these deductions – and others that may not be listed here.