Inthe summer of 1990, the Internal Revenue Service announced the long awaited rules on Tax Deferred Exchanges. Section 1.1031 of the IRS Code laid out in detail the procedure for turning a sale and purchase type transaction into an Exchange. The revised rules allow owners of certain types of “like kind” real estate to sell … 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
It is no secret that the United States is the most sue happy, litigious society on earth. That said, it is important to note that many of these lawsuits are a necessary component of our legal system, and possibly the only means to right many of the wrongs that occur in our society on a … Read more
The majority of people do not put the IRS on top of their goal list, and listed below is precisely why: Every alternate creditor plainly stops service if you do not pay them. Nevertheless, with the Internal Revenue Service, a long time can go by before they contact you. So what is the big deal? … Read more
The Final and the Most detrimental: The majority of people don’t put the IRS at the top of their priority checklist, and here is why: If you do not pay your internet bill, they shut down your internet. If you don’t pay your car insurance, they terminate the policy. You could possibly go many … Read more