In Photoshop CS6, the new version of Photoshop, you can use special cropping tool and you are done, but that doesn't mean you cannot achieve the same result with older versions.
A great and simple way to create the letterpress like effect using Photoshop. Basically all you need to do is to apply different layer styles to text or object, let me show you how.
The new Adobe Photoshop CC introduced quite a few awesome updates to existing tools and feature. One of the most welcomed ones sure is some of the new Image Resize functionalities, check it out.
Pretty cool Photoshop tutorial, where we will add two text layers, one will be placed behind and the main at front. And I think you might really enjoy the final result, go for it and have fun!
With the new version of Photoshop, you also get a new cropping tool called Perspective Crop Tool which will change the perspective on a image. Check it out, it really is a cool tool.