U.S. Congress - S.1349 Home Office Tax Deduction Simplification and Improvement Act of 2009
S.1349 - Home Office Tax Deduction Simplification and Improvement Act of 2009
A bill to amend the Internal Revenue Code of 1986 to simplify the deduction for use of a portion of a residence as a home office by providing an optional standard home office deduction. view all titles (2)
All Bill Titles
- Official: A bill to amend the Internal Revenue Code of 1986 to simplify the deduction for use of a portion of a residence as a home office by providing an optional standard home office deduction. as introduced.
- Short: Home Office Tax Deduction Simplification and Improvement Act of 2009 as introduced.
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Official Summary
6/25/2009--Introduced.Home Office Tax Deduction Simplification and Improvement Act of 2009 - Amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business to elect a standard tax deduction equal to the product of a standard rate determined by theOfficial Summary
6/25/2009--Introduced.Home Office Tax Deduction Simplification and Improvement Act of 2009 - Amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business to elect a standard tax deduction equal to the product of a standard rate determined by the Secretary of the Treasury and the square footage of the portion of a residence used to conduct a trade or business (home office tax deduction). Modifies the rules for the home office tax deduction to:(1) allow a deduction for the cost of dealing with patients, clients, or customers even if they are not physically present in the home office; and
(2) establish a de minimis exemption for personal use of a home office. Requires the Secretary to ensure that all self-employment tax forms and schedules separately state amounts attributable to real estate taxes, mortgage interest, and depreciation for purposes of the home office tax deduction.
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