Step 1 - make a 500x500px white background image.

Step 2 - Grab your Rectangular Marquee tool and then set your foreground colour to #434343. Press Alt + BACKSPACE . this should make your canvas go darkish grey. THEN CREATE A NEW LAYER

Step 3 - On this new layer, Using your rectangular marquee tool, make a squared shape, right click and press Stroke. Use the settings shown below. (7px, white, inside)

Step 4 - Edit > Transform > Perspective Then move the bottom right near the middle like so \/. Press Enter.

Step 5 - Duplicate this layer THREE TIMES. (CTRL + J). You should now have 4 of the same shapes. For the third layer: edit>transform>rotate 90 degrees CW
For the Fourth layer: edit>transform>rotate 90 degrees CWW
and for the last layer: edit>transform>flip vertical. you should have something like this:

Step 6 - Using the Move tool, put each of the shapes into this position, then merge the layers (click the top layer, CTRL + E until they are in one. (Background and layer 1)

Step 7 - This ones a bit hard to get at first. Go to Edit . Transform > Perspective and then drag the top left corner towards the middle. Then drag the bottom right corner DOWN then press ENTER. It should look something like this:

Step 8 - Edit > Transform > Rotate and move it round to look like this... Press Enter.

Step 9 - Go to Edit > Transform > Scale And hold SHIFT then use diagonal movements to scale it without it losing its shape.

Finished Product: Added text. Both have the layer style: Drop Shadow (default), Outer Glow (White), Outer Bevel (1 size & 2 soften)

I used a font called Brooklyn Kid (DOWNLOAD HERE)