Few people involved in the sharing economy know what taxes they’re supposed to pay, nor how to pay them. Because the rules are unclear, enforcement is almost nonexistent, and the feeling that “sharing” shouldn’t be taxed at all, very few people do pay them.
As more consumers turn to services like peer-to-peer rental-car outfits rather than Hertz, local authorities are penalizing participants with fines and ordering the companies to cease operations. Is it still safe to share?
Buyers snatched up houses as investment properties and second homes at an especially fast clip last year. The number of homes purchased for investment purposes rose a whopping 65% in 2011, from 749,000 to 1.23 million …