Detail The New and Improved Home Office Deduction   Oleh:  Payne, Thomas H. ; Fleischman, Gary M. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 187 no. 3 (1999), page 30-36. Topik: deduction; home office deduction Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.8 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel Starting this year, significant relief is available for the millions of tax payers self - employed and employees who use some part of their home as a business office. A new law provides a less arbitrary standard for the home office deduction, which should make it possible for more taxpayers to take it. Although most of the provisions of the Tax payer Relief Act of 1997 became effective in 1998, the home office rule changes did not take effect until January 1, 1999. While congressional committee reports and legislative language clearly indicate the new law does not fully eliminate restrictive prior legislation or judicial precedent, the good news is the law expands the definition of a principal place of business and allows a taxpayer who meets either the old or new standard to take a deduction. CPA s advising clients on their eligibility for the home office deduction in 1999 and beyond will find it helpful to review the 1997 home office legislation and the related provisions of IRC section 280 A as well as previous court rulings and regulatory guidelines that will remain relevant beyond January 1, 1999. In addition, CPA s will benefit from examples of how the new provisions expand the activities that qualify a home office as a principal place of business. As CPA s begin to deliver completed 1998 tax returns to their clients, this is an ideal time to explain the new home office rules to them. Clients who were previously ineligible may need to begin keeping appropriate expense records and other clients may be eligible for an enhanced deduction that will involve different record - keeping responsibilities. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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