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Level 3

Is a business license necessary?

I have received permission from a landlord prior to signing any lease agreement which allows for me to sublet through the Airbnb platform. My question now is, do I need a business license to deduct expenses: rent, furniture, cleaning, cable, internet, water, gas, electricity? Or am I able to sign the lease without a business license and report those same deductions?
1 Reply
Level 17

Is a business license necessary?

a business license is a matter of local law which has nothing to do with income taxes. for federal and state income taxes no business license is required.