References in periodicals archive ?
If the residence doesn't meet the "principal place of business" requirements, RevRul 94-47 holds that the business activity at the residence is not sufficient to overcome the inherently personal nature of the residence.
The only two exceptions to the position taken in RevRul 94-47 are that a taxpayer can deduct daily transportation expenses incurred in going between the residence and a temporary work location outside the metropolitan area where the taxpayer lives and normally works.
RevRul 94-47 will have an adverse effect on many small business owners who work out of their home where either the home doesn't qualify as a home office or the business owner doesn't claim home office expenses for one reason or another.
Taxpayers who want to claim office-in-the-home expenses for their own merit or to deduct transportation expenses under the requirements of RevRul 94-47 must meet the tough rules of IRC Section 280A.
A congressional easing of the rules for deducting home office would make transportation cost deductions easier under RevRul 94-47.
Acronyms browser ?
Full browser ?
- revolving storm
- Revolving Underwriting Facility
- revolving-blade mixer
- revolving-block engine
- revolving-door admission
- revolving-door syndrome
- revolving-door syndromes
- revolving-drum truck mixer
- Revolving-Loan Fund
- Revolving-Loan Funds
- Revrendissima Signoria Vostra
- revs it up
- revs something up
- revs them up
- revs up
- Revson, Charles
- Revue Africaine de Recherche en Éducation
- Revue Archéologique de l'Est
- Revue d'Anthropologie des Connaissances
- Revue d'Art et de Littérature
- Revue d'Art et de Littérature, Musique
- Revue d'Economie Industrielle
- Revue d'Etudes Tibétaines
- Revue d'Histoire de l'Amérique Française
- Revue d'Histoire des Facultés de Droit et de la Culture Juridique
- Revue d'Histoire Ecclésiastique
- Revue d'Intelligence Artificielle
- Revue de Direction
- Revue de Droit Canonique
- Revue de Droit d'Ottawa