We have taken some very complex issues and broken them down into two study guides that you can trust for information.
Malibu, CA (PRWEB) August 4, 2008
ClientWhys has just released two must-read courses for anyone affected by the current residential real estate crisis. These online courses offer CPAs, Enrolled Agents and Tax Preparers continuing professional education, but are suitable by any professional handling clients affected by the housing crisis. The courses are offered in easy-to-use, online, self-study formats and will provide a much better understanding of the tax and financial issues facing distressed homeowners.
Written by tax expert, Lee Reams, Sr., EA, these courses will help explain the complexities and options available during these trying times. "We have taken some very complex issues and broken them down into two study guides that you can trust for information."
ClientWhys CPE Course Descriptions:
Housing Act of 2008 - Individual Provisions (1-Hour CPE) - The Housing Act includes a vast number of law changes to help the housing crisis, but only a select few impact the preparation of individual tax returns. This course looks at those provisions that have a direct impact on the preparation of individual returns, including the first-time homebuyer credit, the reduction of the home gain exclusion for non-qualified home uses, the additional property tax deduction for non-itemizers, payment card information reporting, the low-income housing and rehab credit allowance against the AMT, the exclusion of certain housing bonds from AMT preference, and the election for certain taxpayers with hurricane-related casualty losses to amend the loss year to include grant income.
Foreclosure, Debt Relief and Insolvent Taxpayer Exclusion (3-Hour CPE) - This course looks at the implications of debt relief as it applies to a number of situations, including foreclosure, vehicle or equipment repossession, voluntary reconveyance, short sale, abandonment of secured property and cancellation of debt. It explains how to report the various transactions for tax purposes and how to exclude debt relief income using the insolvent taxpayer exclusion or the home acquisition debt forgiveness exclusion. It also looks at the home sale issues created by a foreclosure. The student will also learn how to report these various transactions on the taxpayer's return.
For more information, visit http://www.TaxCPE.com or call 1.800.442.2477 x1 to speak to a customer service representative.