For anyone who is not in real estate, 1031 investment property raises eyebrows. This article will explain what 1031 investment property is and what you can do in order to maximize the investment if you are banking on this kind. The Internal Revenue Code offers the investors no loss or gain in recognition of any … Read more
1031 Exchanges are excellent tools to reduce income taxes. Known both as “tax free exchanges” and “1031 exchanges” (based upon the enabling section of the federal income tax code) this tool allows investors to sell real estate without paying income taxes (at the time of sale). Real estate owners or investors expecting to acquire property … Read more
HISTORICALLY, Americans have never had a great affection for being taxed. The great author and political commentator Mark Twain, once stated that the difference between a tax collector and a taxidermist is that a taxidermist only takes your skin. Thus, it usually sparks great interest whenever the Internal Revenue Service may appear willing to allow … Read more
Do you have an investment property that you would like to sell, but defer the capital gains taxes? If so, then you need to consider a 1031 exchange: A 1031 exchange, otherwise known as a “tax deferred exchange” is a strategy and method for selling one investment property and then proceeding with an acquisition … Read more
A tax deferred exchange represents a simple, strategic method for selling one qualifying property and the subsequent acquisition of another qualifying property within a specific time frame. Although the logistics of selling one property and buying another are virtually identical to any standard sale and purchase scenario, an exchange is different because the entire transaction … Read more