How do taxes work for 2024?

As tax deadlines approach (April 15th), you might wonder “how does this work on the rogo app?”…great question!

If you posted your own rentals on the app, you are a “rogo vendor” and as a vendor, you had to create a Stripe profile. Stripe is a payment processing partner to ensure safe transactions. If you earn via rogo, the funds are in your Stripe account.

Like any peer platform, you must record any income. According to the IRS (link below) you need to report it if you earned a minimum of $5,000 in 2024. Stripe will generate a 1099k form. You can find it in your dash in the documents section or keep an eye out for a mailed copy to the most recent address you have listed on Stripe (more details in link below). That said, we always recommend to consult a CPA to get the most accurate information.

Here’s the thing – rogo is created to help you earn more money for your family and/or existing rental business. The tax side is quite easy, whether you use a tax vendor (H&R Block, turbotax, etc) or a personal CPA… it is quick to add this in! Something to consider… you can write off new rental items as business expenses…again, consult with a tax professional to ensure you are reporting correctly.

We’re so grateful to have you with us and excited for what’s ahead. There’s so much more to come: new features, improvements, and ways to make your experience even better.

As always, if you have any questions, please email us at support@rogorent.com.

Last but not least – LINKS:

IRS Info on 2024 taxes: https://www.irs.gov/businesses/understanding-your-form-1099-k#:~:text=Third%20party%20settlement%20organizations%20(TPSOs,%24600%20in%202026%20and%20after

Stripe Info for Tax Docs: https://support.stripe.com/questions/1099-k-tax-forms#:~:text=Stripe%20issues%201099%2DK%20forms,well%20as%20some%20U.S.%20states.