What PRINCIPAL PLACE OF BUSINESS means: The main place where work is performed or business is transacted. Taxpayers who engage in more than one business can have more than one principal place of business. For purposes of the home-office deduction, a principal place of business may also be an area of a taxpayer's home that is used for the management and recordkeeping portions of the business, provided there is no other fixed location where the taxpayer performs such functions.
- Definition Prepaid Interest:
- Dictionary advance is deductible only as it accrues. The one exception to this rule is for certain points paid by a cash-basis taxpayer to obtain financing for a loan used to purchase, reconstruct, or improve principal place of business definition.
- Definition Pension/Annuity Starting Date:
- Dictionary The first day of the first period for which an amount is due as a pension/annuity payment under the contract principal place of business explain.
- Definition Passive Income:
- Dictionary Passive income is income from business activities in which the taxpayer does not materially participate, and most rental activities. See also Material Participation and Portfolio Income principal place of business what is.
- Definition Public Retirement System:
- Dictionary A retirement system established by the United States, a state, territory, or possession of the United States, or their political subdivisions principal place of business meaning.
How works Principal Place of Business meaning in Tax definitions P .
