The Tax Consequences of Airbnb Ownership

The Tax Consequences of Airbnb Ownership

There has been a steady increase in people renting out their houses using popular rental services such as Airbnb or VRBO. It's a great system that allows property owners to earn a premium rental charge over a typical monthly rental.

Additional Tax Benefits from PILOT Agreements

Companies that have PILOT (Payment-in-Lieu-of-Taxes) agreements in place with a local Industrial Development Board (IDB) have an additional opportunity to save tax dollars. While the main focus of a PILOT agreement is the reduction of property taxes, there are potential Tennessee franchise tax savings for certain taxpayers, dependent upon their property within the State.

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