Taxes
Turn Your Restaurant's Tax Situation into Savings Opportunities
National Restaurant Association’s webinar with Frost Law tax experts explains how to get the most out of your returns.
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Topic - Tax
U.S. Lodging Tax
2022 HVS Lodging Tax Report - USA - By Thomas A. Hazinski and Peter J Gonzalez
This study examines the current status and historical trends of lodging taxes and policy trends in the US and analyzes lodging tax rates and revenues across a broad range of US cities. It includes lodging tax rates/collections on 150 US cities and all 50 US states.
The Sharing Economy
Impact of Occupancy Taxes on the Sharing Economy
Efforts to collect occupancy taxes on Airbnb lodging listings, designed by public policy makers to regulate the homesharing market, have put individual hosts at a distinct disadvantage compared to commercial listings, rather than leveling the playing field as intended, new research shows.
Hotel Property Taxes
Hotel Property Taxes - An Opportunity to Cut a Cost - By Robert Mandelbaum and Mark Whitney
According to the March 2022 edition of CBRE’s Hotel Horizons national forecast report, the total revenue for a typical U.S. hotel is not expected to return to pre-COVID 2019 nominal dollars until 2023. Accordingly, hotel owners and operators continue to seek ways to control expenses. One potential reduction opportunity is property taxes.
Tax Planning
The Cost of Waiting to Make a Large Gift: Compounding Your Tax Savings
If you are planning to make a large gift as part of your estate plan, you should consider taking advantage of the current tax exemption in effect until the end of 2025. After this time, the exemption will revert back to approximately one-half of its current value. This has potentially huge implications for hospitality executives and other high-net-worth individuals. Gordon Schaller, managing partner of JMBM’s Orange County office, explains below.
U.S. Lodging Tax
2021 HVS Lodging Tax Report - USA - HVS
While the impacts of the COVID-19 pandemic on the lodging industry are ongoing, this tenth annual HVS Lodging Tax Study quantifies the revenue impact of the pandemic over the past year. An analysis of 25 major US markets shows losses totaling approximately $1.3 billion in 2020 from historical levels in 2019. HVS forecasts a loss of $1.45 billion in rooms revenue in 2021 from a baseline scenario with no pandemic.
U.S. Lodging Tax
The 2020 HVS U.S. Lodging Tax Report - By Thomas Hazinski
While prior HVS annual lodging tax studies have looked back on tax rates and revenues across the United States, this ninth annual Lodging Tax Study also looks forward and assesses the impact of the COVID-19 pandemic. This analysis of 25 major US markets illustrates the depth of the impact on the hospitality industry and projects a pattern of recovery over the next few years.
Hotel Property Taxes
HVS Report - Hotel Property Taxes Post COVID-19 - By Brian F. Bisema and Suzanne R. Mellen
Following waves of asset of appreciation, the pendulum has swung, and many hotels will be facing significant value declines in the current economic climate. As owners look for every way to reduce operating expenses, they should remain vigilant to pending fluctuations in real property assessment levels and proactive on appealing their assessments, if warranted.
U.S. Lodging Tax
The 2019 HVS U.S. Lodging Tax Report - By Thomas Hazinski (PDF Download)
In the 8th annual Lodging Tax Report, HVS explores the current status and historical trends of lodging taxes in the USA. This updated version provides lodging tax rates/collections on all 50 US states and 150 US cities.
'Voluntary' Tax Agreements
Report: States, Localities Lose Money on Sweetheart Short-term Rental Tax Deals
Tax Research Says 'Voluntary' Tax Agreements with Short-Term Rental Platforms, Like Airbnb, Lose More Public Revenue Than They Gain