February 2007

Dear CCH Learning Center Subscriber,

Welcome to the February 2007 issue of Focus on Learning, the monthly newsletter for the CCH Learning Center that provides insights on how to use the Learning Center to your full advantage and updates on new courses and features available to you. In each issue we highlight a course (or series of courses) on a timely topic, and let you know about new courses released in the CCH Learning Center. We also inform you of new useful features, provide helpful tips on existing features, and help you use the CCH Learning Center to meet your professional development and CPE needs.

Learn and Earn CPE While You Work
The CCH^® Learning Center Core Library and CCH^® Tax Research NetWork™ are now more deeply linked than ever. New two-way integration allows you to easily move back and forth between Learning Center courses and Tax Research NetWork content.  

CCH introduces just-in-time learning. If you subscribe to both the Learning Center and Tax Research NetWork, you have long been able to link to the Tax Research Network from a Learning Center course. Now, powerful new integration allows you to learn more about a topic you're researching on Tax Research NetWork by linking to a related course in the CCH Learning Center Core Library — and earning valuable CPE credit while you do your work. 

You can refresh your knowledge on a specific tax area, or brush up on a particular topic. You don't have to take an entire course at one time. Just get the information you need and return to your research work. The CCH Learning Center saves your place so you can go back at a later time and complete the course for CPE credit. This work-learning process is seamless, convenient and highly productive. Use it while tackling a client tax problem, preparing for an engagement or any of the many other research activities you do every day. 

New Learning Center Core Library Courses
CCH is committed to keeping you up-to-date and knowledgeable on the latest issues that impact your firm or corporation. Many new or revised courses covering a wide range of topics have been released to the CCH Learning Center Core Library over the past two months, including:

• 1120 Preparation and Planning 1: Introduction to Form 1120 (2007 Edition) 

• 1120 Preparation and Planning 2: Income (2007 Edition) 

• 1120 Preparation and Planning 3: Deductions (2007 Edition) 

• 1120 Preparation and Planning 4: Tax and Payments (2007 Edition) 

• 1120 Preparation and Planning 5: Estimated Taxes and Special Topics (2007 Edition) 

• Alternative Minimum Tax for Individuals (Second Edition) 

• Choice of Business Entity 

• Derivatives and Hedging — Overview of Statement 133 

• Domestic Production Activities Deduction: Evolving Rules 

• Education Tax Incentives: Opportunities and Strategies (Third Edition) 

• Health Savings Accounts (Second Edition) 

• IRS Enforcement Programs 

• Nonqualified Deferred Compensation 

• Recent Tax Developments (November-December 2006) 

• Roth IRAs (Third Edition) 

• Tax Developments in 2006 for Individuals 

• Tax News and Headlines in 2006: TIPRA, Pension Legislation and Other Key Developments
  

Course Spotlight
Like-kind exchanges provide several advantages to taxpayers, such as deferral of capital gains taxes and the ability to upgrade property at lower cost. However, compliance issues in structuring like-kind exchanges have become more complex as the law in this area has become more voluminous. CCH’s Like-Kind Exchanges course provides an overview of this area, and updates you on recent developments.   

Like-kind exchanges guides you through effective use of the tax-deferral techniques available under Code Sec. 1031. In addition, it reviews new developments and recurrent issues that have impacted either taxpayers or the IRS. The course reviews the basic requirements for like-kind exchanges, as well as recent developments in this area that have helped many astute taxpayers and trapped many more unsuspecting ones. The helpful tools and resources include client letters, sample documents, flowcharts and related journal articles designed to reinforce and help you apply the information presented in the course. Topics covered include:

• Types of property that can be exchanged

• Differences in treatment for personal vs. real property

• Consequences of receiving boot

• Requirements for holding property 

• Related party engaging exchanges

• Deferred exchanges

• Qualified intermediaries (QIs)

• Reverse exchanges

• Special issues related to partnerships

Upcoming Courses
We will release many new courses in the CCH Learning Center in the weeks and months ahead to give you even more choices and more value. Among the new and updated courses that are in development now, look for courses in the following areas soon:

• Accounting and auditing developments

• Business succession planning

• Depreciation

• Fair value measurements

• Internal control

• Multistate tax issues

• Real Estate accounting

• Recent tax developments

• Roth 401(k)s

• S Corporations

• Self-adjusting GRATs

• Tax research

Audio Seminars
CCH’s wide range of interesting, educational CPE options now includes audio seminars. Each audio seminar allows an unlimited number of users at your firm to get up-to-speed on a hot topic using nothing more than a telephone connection. Plus, participants can earn up to 3 CPE Credits. Learn about upcoming audio seminars here.

CCH’s audio seminars, presented by top experts, are designed to provide you with updated information on the hottest tax and accounting topics. Along with detailed handout materials, each site registering for an audio seminar receives topically-related bonus items such as books, journals, newsletters or self-study CPE courses. Check out the latest Audio Seminars schedule for details on upcoming seminars, including “Tax Returns for Businesses Using the LIFO Inventory Valuation Method” on March 8.