1031 Exchange and Tax Advantages A 1031 Exchange or Like Kind Exchange is defined by Section 1031 of the InternalRevenue Code. This code specifies that if an asset (usually some form of real estate such asland or a building) is sold and the proceeds of the sale are then reinvested in a like kind of … Read more
Senior figures from the international banking industry have been meeting with high-ranking officials from within the Obama administration to express their concern over proposals to strengthen the Qualified Intermediary (QI) program. The QI program was established in 2000 to encourage foreign banks to report details of their US clients to the US Internal Revenue Service … Read more
Transactional Service Charges – 1031 Exchange Fees, Costs and Charges Evaluation of the 1031 exchange transaction fees and costs charges by Accommodators is a complex and intriguing subject. This article will help us to understand some of the intricacies of the 1031 exchange fees, costs and other charges. The article – presents facts from the … 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
If you are considering a 1031 property investment, then you will need to seek the services of a Qualified Intermediary (also referred to as a QI). This may seem like a simple task but since there are no uniform licensing requirements or oversight regulations for those in these positions it makes it a little … Read more