Home Office Tax Deduction Simplification and Improvement Act of 2008

Summary

Home Office Tax Deduction Simplification and Improvement Act of 2008 - 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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Timeline

1. 31 July 2008

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7909)

   Source: IntroReferral

2. 31 July 2008

   Introduced

   Sponsor introductory remarks on measure. (CR S7908-7909)

   Source: IntroReferral

3. 31 July 2008

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 31 July 2008 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 31 July 2008

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 31 July 2008

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 31 July 2008

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Snowe, Olympia J. [R-ME] · R · Sponsor
• Sen. Conrad, Kent [D-ND] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → Home Office Deduction Simplification Act of 2008
• related to → To amend the Internal Revenue Code of 1986 to provide for a standard home office deduction in the case of certain uses of the office.
• related to → Home Office Tax Deduction Simplification and Improvement Act of 2008