What is the tax on short-term rental in California?
What is the tax on short-term rental in California? Under existing law, a violation of the Fee Collection Procedures Law is a crime. This bill would, beginning January 1, 2025, impose a tax on the occupancy of a short-term rental in this state at the rate of 15% of the rental price of the short-term rental.
How much taxes will I pay on Airbnb?
The taxes are much worse for a Schedule C because you have to pay income tax and self-employment tax (15.3%). Schedule C Example: Let's say you make $20,000 net profit from your Airbnb in 2021. If you're in a 20% income tax bracket, you will have to pay a total of $7,060 in tax.