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Business Tax return filing by Certified
CPA / Enrolled Agent
(Starts at $350)
The Airbnb hosting business has revolutionized the hospitality industry, providing a platform that allows individuals to turn their properties into profitable accommodations for travelers worldwide. This innovative model has not only transformed the way people travel but has also empowered individuals to monetize their unused living spaces, creating a unique opportunity for entrepreneurial homeowners.
Managing finances as an Airbnb host can be challenging as keeping track of income and expenses and Airbnb online transactions is complex. At Meru Accounting, we recognize the distinct challenges faced by Airbnb hosts and have crafted specialized services to address their unique needs. Meru Accounting streamlines your financial processes, allowing you to focus on delivering exceptional hospitality.
In the Airbnb hosting business, several accounting methods and core aspects are crucial for effective financial management. Here are key aspects of accounting for Airbnb hosts:
Bookkeeping helps hosts track all sources of income, including reservation payments, cleaning fees, and additional services. This ensures accurate recording of revenue generated from each booking.
Hosts incur various expenses, such as cleaning supplies, maintenance, utilities, and property management fees. Bookkeeping allows hosts to categorize and track these expenses systematically, providing a clear overview of operational costs.
Bookkeeping is essential for Airbnb hosts to comply with tax regulations. Accurate and organized financial records facilitate the preparation of tax returns, ensuring hosts claim eligible deductions and report income correctly.
By maintaining detailed financial records, hosts can create budgets and forecasts. This enables effective financial planning, allowing hosts to allocate funds for property improvements, marketing, and other business needs.
Bookkeeping helps hosts monitor cash flow by tracking incoming reservation payments and outgoing expenses. This real-time visibility into financial transactions enables hosts to manage liquidity effectively.
For hosts managing multiple properties, bookkeeping facilitates project accounting. It allows hosts to track income and expenses for each property separately, providing insights into the profitability of individual listings.
Bookkeeping includes recording communications with guests, such as messages related to bookings, inquiries, and special requests. This documentation can be valuable for dispute resolution and maintaining a positive guest experience.
Tracking property-related expenses in bookkeeping helps hosts plan for routine maintenance and repairs. This proactive approach ensures that hosts can address issues promptly, enhancing the overall guest experience.
Bookkeeping enables hosts to generate financial reports, such as income statements and balance sheets. These reports provide a comprehensive overview of the business’s financial performance, aiding in strategic decision-making.
Accurate bookkeeping ensures hosts comply with legal requirements, including local regulations and tax obligations. This helps prevent potential legal issues and ensures a smooth operation of the Airbnb hosting business.
In the event of an audit or inquiry, well-maintained books serve as a comprehensive record of financial transactions. This documentation provides evidence of income, expenses, and compliance with tax laws.
Bookkeeping provides hosts with financial insights that are crucial for scaling and expanding their Airbnb business. It helps hosts identify areas for improvement, assess the viability of new properties, and make informed business decisions.
Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.
We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.
Help you with switching from your traditional software to Xero and Quickbooks.
We also manage VAT, BAS, Sales Tax and Indirect taxes for you so you are always ready at the end of the financial year.
When you choose to outsource your accounting work with us, it benefits you in the following ways:
We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.
Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.
Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.
Our experts are always all ears to listen to your queries regarding bookkeeping and accounting or our services. You can contact us anytime by visiting: Contact Us page.
We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.
We take certain preventive measures to secure your data, like:
Meru Accounting work on some of the best accounting software’s like:
Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.
To book for trial, call us on our numbers or Please fill out the form here.
We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.
For information visit our work methodology page.
We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.
We can provide to you once we move ahead in our interview.
We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.
Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.
Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.
Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.
BAS is generally required to be filed quarterly by various businesses.
Yes, Owner of the business can prepare sign and lodge the tax return on his own. Its not mandatory that the Tax return needs to be signed by an EA or CPA.
No , its not mandatory that it should be prepared by only CPA or EA. It can be prepared by anyone who has PTIN.
We have Enrolled Agent who has the Authority to sign the documents for our clients after completing the through professional check.
Meru Accounting has its operational centre in India and hence the prices are quite less as compared to US based CPA’s and Enrolled Agents.
Meru Accounting has a team of Tax experts. Each Tax expert prepares around 300-400 Tax returns every year for various CPA’s in United States and Individual Businesses like yours. Due to this vast Experience and Robust Quality Check processes in place we can ensure you about correct Tax planning for your firm.