Hosting an experience is a unique opportunity to share your passion with the world, but it comes with a certain level of commitment and responsibility.
Being a responsible host means being an informed and diligent business owner. That’s why it’s important to be aware of the local laws and tax regulations that may affect you and your growing business.
What taxes apply to me?
Tax regulations vary widely depending on location, business registration type, and the amount of money you earn. Because taxes can be complicated, take time to understand the rules as they apply to you and your experience.
Helpful tax tips to remember:
Start fresh. Keep your business and personal finances separate.
Work with a professional. Whether it’s a surfing lesson or cooking class, consider hiring a tax accountant or use a service that’s familiar with your type of craft.
Keep records. Whether it’s specialized equipment or basic supplies, keep all receipts and records of purchases related to your experience.
Stay organized. By implementing just a few practices into your daily, weekly, or monthly routine, you’ll be ready to go when tax season arrives.
You can find tips and resources specific to your city’s local tax laws, regulations, business licenses, and more in the Responsible Hosting Center.