Surgent's Tax Aspects of Home Offices and Vacation Homes
Available Until
Self-study
2.00 Credits
Member Price $49.00
Non-Member Price $79.00
Overview
The purpose of this course is to provide a practical and in-depth analysis of the significant tax planning advantages and strategies related to owning a principal residence for use as a home office and/or vacation home for upper-income taxpayers.
Highlights
- Mixed use of a residence: how deductions are limited in rental situations
- Home office: qualification and calculation
- Strategies and planning for renting a principal residence instead of selling it
- Why buying a vacation home can be a very smart investment
- Should you rent or use your vacation home? Opportunities and pitfalls
- Rules for using like-kind exchanges on principal residences and vacation homes
- Understanding the tax rules for acquisition indebtedness and home equity indebtedness
- Maximizing your interest expense deduction in light of limitations in the tax code
Prerequisites
A basic course in individual income tax and in tax return preparation
Designed For
CPAs who wish to assist clients with the home office deduction and/or vacation home issues
Objectives
- Distinguish a pure residence from a mixed-use residence and how §280A applies
- 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
Preparation
None
Notice
This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by Surgent Professional Education. The course expires one year from the purchase date. Format = on demand webcast to view with the course materials.
Non-Member Price $79.00
Member Price $49.00