A tax home is the primary location where an individual conducts business or employment activities. It serves as the central base from which work-related activities are carried out. On the other hand, tax residence relates to an individual’s legal status in a particular jurisdiction for tax purposes.
It involves factors such as the duration of stay, personal and financial ties, and the intention to remain in a specific location. While a tax home relates to work activities, tax residence encompasses broader legal and regulatory considerations determining an individual’s obligation to pay taxes in a specific jurisdiction.