Article by Garry Neale When you run your own business, paying taxes can really take up a lot of your earnings. However, there are ways in which you can save on tax and the 1031 tax exchange is one of them. The 1031 tax exchange is one of the most common types of tax deferral … 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
If you are into the real estate business, particularly in renting a property, it is vital that you know what 1031 exchange means. There are some, who have not heard of this exchange. The IRS created this in the year 1990. The purpose of this exchange is to help real estate investors. The benefit one … Read more
Many of our area’s real estate investors have heard of the 1031 exchange, a technique where property held for investment is exchanged for “like kind” property thereby deferring capitol gains taxes until a later tax year. While investors like being able to defer taxes until a later year, many complain that they’d like a way … Read more
The exchange of 1031 properties is a complex transaction. Many things can go right leaving you to enjoy a more secured future with steadily increasing real estate investments and revenue. You can also learn some painful lesson when things go wrong along the way. You can reduce the risk of 1031 properties gone wrong by … Read more