If you decide to relocate to Florida, you’ll have property taxes just as in any other state. The good news is that Florida property taxes are very reasonable. The median home value in Florida is 9,500. The average property tax is ,495, which means Florida has the 22nd highest average tax amount in a comparison … Read more
When entering into a 1031 exchange one often does not consider the ancillary costs that come with closing the transaction. Often the assumption is made that these costs will be subsidized by the 1031 exchange proceeds. However, while some of these costs certainly can be bankrolled by the tax deferred exchange, some cannot. Knowing how … Read more
Vacation Homes have long been a source of angst among exchangers and their advisors because of the lack of guidance on whether they qualify as an investment property for IRC ยง1031 purposes. In the past, exchangers readily exchanged ‘second homes’ based on the claim that in addition to enjoying the vacation home personally, they also … Read more