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

Customer Rating
Field of Study
Taxes
Level
Basic
Credits
2
Qualifies For
IRS CPE



Price:  $ 19.99

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.

Additional information

year

2021, 2022

version

01

Credits

2

Company Code

Self Study

Format

On Demand

Yellow Book Approved

0

CFP Approved

0

IRS Approved

1

CTEC Approved

0

Field of Study Credits

Taxes (2)

Field of Study Department

Taxes

Course Version

2022-01

CPE Approved

1

Pre-requistes:

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

Knowledge Level:

Basic

Major Topics:

  • Understanding the tax rules for acquisition indebtedness and home equity indebtedness
  • Should you rent or use your vacation home? Opportunities and pitfalls
  • Maximizing your interest expense deduction in light of limitations in the tax code
  • Mixed use of a residence: how deductions are limited in rental situations
  • Home office: qualification and calculation
  • Why buying a vacation home can be a very smart investment
  • Rules for using like-kind exchanges on principal residences and vacation homes
  • Strategies and planning for renting a principal residence instead of selling it

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

Customer Reviews

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P
Pamela N. (Wilmington, US)
Useful course

This course was very helpful and I have already found myself using what I learned to prepare, sort, and filter tables in Excel.

J
Jennifer S. (Foster, US)

Excel: Audit & Analytical Uses for Filters & Tables (AUMC)

L
Lauren V.D. (Montgomery Village, US)

Excel: Audit & Analytical Uses for Filters & Tables (AUMC)