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Ed Ulmer

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Vacation Rental Companies as Source for State Revenue

Posted by Ed Ulmer on Nov 16, 2015 4:00:00 PM

We are starting to hear that states are using vacation rental companies as a hub to get information both directly and indirectly that affect taxes, insurance and workmen’s comp issues. 

Consider this. A state revenue agent knocks on your door. They require you to provide data of reservations and that you trust accounts are correct.  In doing so, they capture owners who work with you.  They then have the ability to monitor the owner’s income to see if they are including that for tax purposes. The Revenue Agent also ask you about how you do cleaning and property management, if they are in house staff, they look to see if you fall in or out of insurance guidelines. If cleaners and property managers are independent contracts, they know who they are (thanks to you) and they track them down to see if they are filing taxes and more importantly, if that independent provider is hiring assistants that may fall into insurance and workman’s comp issues.   

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Tags: Vacation Rental Industry