Article by Isaac Roy
Section 1031 of the Internal Revenue Code generally provides that neither gain nor loss is recognized if qualifying property is exchanged for other qualifying property of a like-kind. In the above scenario, you may defer the payment of 0K in both federal and state taxes if ...
Most Recent Articles For: state taxes
Written by admin on July 9th, 2011
Written by admin on May 21st, 2011
When you sell your interest in investment property, you may incur federal capital gains taxes and, in some states, state taxes as well. Your attorney, tax advisor, or real estate professional may suggest a ...
Written by admin on May 21st, 2011
A 1031 exchange refers to Section 1.1031 of the Internal Revenue Code which was passed in 1990. Normally, when you sell all real and personal property, the tax code requires the payment of the ...
Written by admin on May 21st, 2011
The 1031 exchange is a great instrument for property owners who wish to defer their capital gains tax. However, not all states treat 1031 exchanges equally. California regulations stipulate that any appreciation in ...
Written by admin on May 18th, 2011
Taxes... Say that word and many people will start to groan when they hear it ...and with good reason. To begin with, paying annual taxes is usually a financial burden for most people. ...
