Renting your property for the Summer Season? – Some Things You Should Know

In the summer months folks often rent out their home or summer cottage. If you plan to join them, you should know the tax implications that arise from residential and vacation home rentals. The IRS has compiled some helpful information to help taxpayers plan ahead for the income they receive from the rental and how it should be reported. Visit https://www.irs.gov/newsroom/plan-ahead-for-vacation-home-rentals to learn more about it.