March 2009

Welcome to the March, 2009 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.

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:

• Agricultural Taxation: Income

• Agricultural Taxation: Deductions

• Alternative Minimum Tax: A Growing Problem (Second Edition)

• Domestic Production Activities Deduction: Evolving Rules (Second Edition)

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

• Home Office: Expenses and Deductions (2009)

• Itemized Deductions: What Is and Is Not Deductible (Second Edition)

• Kess on Tax Legislation 2009: American Recovery and Reinvestment Act of 2009

• Recent Tax Developments (January-February 2009)

• Retirement Savings for Small Businesses

• Tax Penalties: A Developing Danger (Second Edition)

• Tax Research: Process (Third Edition)

• Tax Research: Researching State and Local Tax Law (Third Edition)

• Tax Strategies for Employees and Business Owners in a Tough Economy

• Travel and Entertainment: Expenses and Deductions (2009)

New Course: Accounting and Audits Specialty Library
In addition to the titles listed above, a new course has been released exclusively to the CCH Specialty Library: Accounting and Audits. This library covers a broad range of accounting and auditing courses including specialized topics. The new course released is:

• Independence Rules that Affect Compilation and Review Engagements (Second Edition)
  
  

New Courses: State Taxation Specialty Library
New courses have also been released exclusively to the CCH Specialty Library: State Taxation. The courses in this library provide insights on basic and emerging state tax issues. Written by top experts in the field, these courses offer timely coverage, current information and in-depth analysis, giving you the guidance you need to keep a step ahead of important state tax issues. New courses released exclusively to this library include:

• California Tax: New Rules for Tax Preparers (Second Edition)

• Multistate Corporate Income Taxation: Pass-Through Entities

• Multistate Corporate Income Taxation: Sales Factor

• Multistate Corporate Taxation: Nexus

• Sales and Use Taxes: Construction Contractors and Manufacturers

• Sales and Use Taxes: Pre-Audit Strategies and Opportunities

• Sales and Use Taxes: Tax By Industry Segment (Second Edition)
  
  

New Course: Wealth Management Specialty Library
In addition to the titles listed above, a new course has been released exclusively to the CCH Specialty Library: Wealth Management. This library provides insights on important or emerging financial and estate planning issues. It addresses a wide range of wealth management issues, from strategic planning to preparation of the appropriate tax forms. The new course released is:

• Code of Ethics and Professional Responsibility for Financial Planners - Sixth Edition
  
  

Course Spotlight: Kess on Tax Legislation 2009: American Recovery and Reinvestment Act of 2009
The American Recovery and Reinvestment Act of 2009 ('09 Stimulus Act) provides a staggering $300 billion in tax breaks over 10 years and contains virtually no revenue raisers. Most of the tax benefits (about $280 billion) are concentrated in 2009 and 2010, with many provisions retroactive to January 1, 2009. Noted tax experts Sidney Kess, J.D., CPA, and Barbara Weltman, J.D., take a straightforward and practical look at 2009 tax legislation and related developments. The course offers helpful guidance on the new law, including planning opportunities, and pitfalls to beware of. Helpful Planning Pointers and Observations, as well as Alerts to changes affecting 2008 income tax returns are integrated throughout the course and are designed to assist users in understanding and applying the new law. Topics covered include:

• Changes for Individuals including making work pay credit, unemployment compensation, earned income tax credit, child tax credit and AMT relief

• Changes for Housing and Transportation such as first-time home buyer credit, home sale exclusion, home energy credits, exclusion of debt forgiveness, transit passes, deduction for motor vehicle taxes and credits for various vehicles

• Changes for Education and Health including the American Opportunity Credit, Pell grants, 529 plans, Cobra for unemployed individuals, health coverage tax credit and health coverage for children and public safety officers

• Retirement Savings such as required minimum distributions, non-spouse rollovers, Roth IRA conversions, funding for defined benefit plans

• Changes for Business including first-year expensing, bonus depreciation, rapid depreciation for race horses, net operating losses, small business stock, built-in gains for S Corporations, deferral of discharge of indebtedness income and much more

• Miscellaneous Changes, Changes Not Made, and Future Legislation such as estate and gift tax changes for 2009 and beyond, changes not enacted and expiring provisions

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:

• Audit Risk Alert

• Cars: Expenses and Deductions

• Estate and Gift Tax Planning in These Uncertain Times

• Funding a Grandchild’s College Education

• Penalty Exposure for Estate Planners that are Return Preparers

• Planning for Clients with Alzheimer's

• Planning for Families with a Special-Needs Child

• Recent Tax Developments

• Researching International Tax Law

• Roadmap for Designing FLP/FLLC Plans

• Roth Versus Traditional IRAs

• Succession Planning for the Family-Owned Business

• Tax Research: Sources

• Tax Sheltered Annuity Rules

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 2 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.

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