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 Personal-Use Property:
- Dictionary Property that is not used for business or investment purposes principal place of business definition.
- Definition Personal Expenses:
- Dictionary individual other than those for business or investment purposes. Personal expenses are not deductible unless specifically allowed under the tax law. Two examples of deductible personal expenses are principal place of business explain.
- Definition Percentage Depletion:
- Dictionary percentage depletion is a specified percentage of the gross income from the property, subject to other limits. Percentage depletion is allowed for nearly all natural resources, except timber. See principal place of business what is.
- Definition Points:
- Dictionary fee (one-time charge paid for the use of money) that a buyer generally may deduct as interest. This amount can generally be deducted in full if paid for the purchase or improvement of a principal principal place of business meaning.
How works Principal Place of Business meaning in Tax definitions P .
