Journal article
Home office deductions: The aftermath of Soliman
Strategic finance (Montvale, N.J.), Vol.74(9)
01 Mar 1993
Abstract
The recent Supreme Court decision of Soliman may prevent many individuals from taking a home office deduction as they have in the past. Generally, in order for self-employed individuals to claim a home office deduction they must use a portion of their residence exclusively for business purposes, on a regular basis, and the portion of the residence must qualify as the principal place of business, the place of business used to meet clients, or an unattached separate structure. The Supreme Court disallowed Soliman's home office deduction because the office was not considered to be his principal place of business. In light of this decision, the home office deduction will continue to be determined on a facts and circumstances basis. However, the mere fact that a taxpayer has no other office is irrelevant, and his or her home office will not qualify by default.
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Details
- Title
- Home office deductions: The aftermath of Soliman
- Creators
- Robin RobinsonAnthony Curatola
- Publication Details
- Strategic finance (Montvale, N.J.), Vol.74(9)
- Publisher
- Institute of Management Accountants
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Accounting
- Identifiers
- 991020531984904721