NotesFAQContact Us
Search Tips
ERIC Number: ED264789
Record Type: RIE
Publication Date: 1985-Nov
Pages: 4
Abstractor: N/A
Planning a Sabbatical? These Tips Can Save Taxes.
Matoney, Joseph P., Jr.; Weston, Marilyn
AAHE Bulletin, p11-13 Nov 1985
Information on potential tax-saving opportunities when planning a sabbatical is provided for college personnel. Advice is offered about tax savings for: rental of the academician's personal residences while away from home, the home office deduction, use of an auto, and foreign income tax exclusion. The answer to what expenses are deductible depends on the nature of the sabbatical and partly on how effectively sabbatical recipients plan their activities. Sabbaticals that involve travel away from home or an extended stay in a foreign country may produce a variety of expenses that qualify for tax deduction. In order to document properly the deductibility of the travel expenses, the taxpayer must demonstrate the business purpose of sabbatical travel and must follow recordkeeping requirements. Keeping a diary on a timely basis is also important. When renting one's home, it may be possible to realize substantial tax savings by showing a loss for tax purposes. Loss can be computed by subtracting house expenses from the rent received. Three requirements for making a tax deduction for a home office are that the office must be used exclusively and regularly for business, the home office must be the principal place of business, and the use of the home office must be for the convenience of the employer. (SW)
Publication Type: Journal Articles; Guides - Non-Classroom
Education Level: N/A
Audience: Practitioners; Researchers
Language: English
Sponsor: N/A
Authoring Institution: N/A