looking for a little more help

[1adam-12]

Hey Guys, hoping to get a little more help here. i have a couple questions...

1. is there a way to make a square box within a picture. what i am trying to do is create a frame about 1/2 in from the sides and 1/4 inch wide. right now i am doing this by using the rectangle marquee tool and making a box 1/2 inch in from the sides... filling the box with the color i want... then using the rectangle marquee took to select inside the box and deleting the unwanted center. is there a better / faster / more precise way to do this???

2. when adding a drop stroke or outside glow to a square object, the corners of the stroke or glow are rounded and NOT 90 degree sharp corners... is there a way to get the sharp corners???

i added a picture i am working on as an example of what i want to achieve...

thanks again in advance... Dave

OH BTW, i am self taught with Photoshop CS5 using tutorials on this forum and youtube..... the people on this site have been invaluable !!!!