Description
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 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
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
Designed For
CPAs who want to assist clients with the home office deduction and/or vacation home issues
Registration for this course has passed.
Course Pricing
WYOCPA Member Fee
$49.00
Non-Member Fee
$64.00
Your Price
$64.00
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