A bill to amend the Internal Revenue Code of 1986 to provide clarification for the deductibility of expenses incurred by a taxpayer in connection with the business use of the home.
Home Office Deduction Act of 1995 - Amends the Internal Revenue Code to provide that a home office qualifies as the principal place of business if: (1) the office is the location where the taxpayer's essential administrative or management activities are conducted on a regular and systematic (and not incidental) basis by the taxpayer; and (2) the office is necessary because the taxpayer has no other location for the performance of the essential administrative or management activities of the business.
Treats the storage of product samples as inventory for deduction purposes.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S1958-1959)
Read twice and referred to the Committee on Finance.
Subcommittee on Taxation & IRS Oversight. Hearings held.
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