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Tax Aspects of Home Offices and Vacation Homes (Z1-HOVH-2021-01-SSDL)

100 Minutes
On demand - Audio

On Demand - Audio

2 CPE Credits in TX

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.

DESIGNED FOR

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

BENEFITS

  • 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

HIGHLIGHTS

  • Mixed use of a residence: how deductions are limited in rental situations
  • Home office: qualification and calculation
  • Strategies and planning for renting your principal residence instead of selling it
  • Why buying a vacation home can be a very smart investment
  • Should you rent or just 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

COURSE LEVEL

Basic

PREREQUISITES

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

PRICING

$49.00 - Member

$69.00 - Nonmember

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

COURSE DEVELOPER

Surgent

ALSO QUALIFIES FOR