When a taxpayer has more than one business location, including the home, how can he determine which location is the principal place of business?
When a taxpayer has more than one business location, including the home, how can he determine which location is the principal place of business?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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When a taxpayer has more than one business location, including the home, how can he determine which location is the principal place of business?
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In the U.S. tax system, taxpayers with multiple locations of business (including their home) must identify their principal location of the business to determine the tax treatment of various business expenses, such as travel and home office expenses.
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