by Fmeaddons

Preparing Tax Plans and Returns for Clients with Vacation Homes or Home Offices (VHHO)

$39

Preparing Tax Plans and Returns for Clients with Vacation Homes or Home Offices (VHHO) is a CPE course that provides 2 credits in the field of Taxes.

SKU: VHHO Category:

Description

Earn 2 credits in the field of Taxes, while learning about the tax advantages and strategies related to home offices and vacation homes.

Major Topics

  • Should you rent or just use your vacation home? Opportunities and pitfalls
  • Strategies and planning for renting your principal residence instead of selling it
  • Mixed use of a residence: how deductions are limited in rental situations
  • Why buying a vacation home can be a very smart investment
  • Home office: qualification and calculation
  • How NOT to finance a second home
  • New rules for using like-kind exchanges on principal residences and vacation homes
  • Maximizing your interest expense deduction in light of limitations in the tax codes
  • Understanding the tax rules for acquisition indebtedness and home equity indebtedness

Learning Objectives

  • Discuss the application of §280A to a vacation home that is also rented out during part of the year
  • Identify the issues related to the use of the residence as a home office
  • Distinguish a pure residence from a mixed-use residence and how §280A applies

Designed For

CPAs who wish to assist clients with the home office deduction and/or vacation home issues

Prerequisites

A basic course in individual income tax and in tax return preparation

Advance Preparation

None

Additional information

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State Board Accreditation

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