A successful 1031 Exchange requires the successful completion of a transaction that involves investment property that must follow certain guidelines, as well as be completed within multiple deadlines, otherwise the taxpayer will most certainly pay as much as 30% in capital gains taxes. That’s a… Read More »The Role of the Agent for a Successful 1031 Exchange
This Month’s Myth: “The 1031 exchange applies only to commercial property” This is one of the most common myths or misconceptions of Article 1031 of the Internal Revenue Tax Code that allows you to defer the taxes on capital gains when you exchange into a… Read More »1031 Myths Debunked!
Websters defines “loophole” as a means of escape or evasion; a means or opportunity of evading a rule, law etc. There are a number of loopholes in the tax laws whereby corporations can save money. I added the example of the word they used in… Read More »It’s Not a Loophole
With all the social media influencers out there on Instagram, Twitter and now TikTok many are attempting to gain followers by sharing their take on the 1031 Exchange. Don’t believe me? Run a search. The number of video shorts are growing daily. Here’s the problem:… Read More »There are 3 Identification Rules, Not Just One!
The simple reason why the 1031 Exchange is great is the deferment of the punitive taxes on capital gains from the sale of an investment property. The better reason it is great, is the power of leverage it provides to an investor to take the… Read More »Why the 1031 Exchange is Great
Now that the election is over, the conversation over the repealing of Section 1031 of the Internal Revenue Tax Code has begun to pick up steam again. And, like all the other times it has come up, the topic will calm down and the Democrats… Read More »RELAX