Emergency savings funds are money that you set aside to use in the event of an emergency. The amount in your emergency fund will depend entirely on you and your situation. How much are your monthly expenses? Which ones can be reduced in the event that you have to live off the rainy day fund? … Read more
Many people are in the business of investing in property or own a property for use by a business. But what do you do when that property is no longer servings its purpose? You sell it and pay the gains tax and move on to purchasing another property. Under normal circumstances that would be correct, … Read more
Article by Jeanette Joy Fisher There are currently some 15 million Americans who own real estate investment property, and more and more of them are discovering the advantages of using 1031 tax-free exchanges for deferring capital gains taxes when they sell. A 1031 exchange is a provision in the IRS code that permits investment property … Read more
An important fact in regard to the 1031 process is that you CANNOT use your 1031 proceeds to fund improvements on land you own already. This is a common stumbling block of inexperienced investors. In order to qualify for a capital gains tax deferral, the replacement property must be of LIKE KIND with the relinquished … Read more
For investors interested in real estate, there may be no better and worthwhile tool than the 1031 exchange. In short, it is a process through which capital gains tax liability can be completely deferred. Enabling otherwise lost funds to be used for investment. It can be, however, a complex process, requiring due diligence … Read more