A tax-deferred exchange allows you to defer federal capital gain taxes when like-kind real property within the exchange timeline. While most states with an income tax regime recognize a 1031 exchange and allow you to defer the state gain as well as the federal gain there is one state that does not. This Tuesday Tip looks at state requirements in a 1031 exchange.
Read MoreTopics: Role of Qualified Intermediary, 1031 non-resident withholding tax, 1031 exchanges, 1031 Replacement property
When you think of a tax-deferred exchange, you often think of like-kind exchanges and what qualifies
as like-kind. This More, More Monday we will discuss 30 year leases, an often overlooked property that qualifies as like-kind in a 1031 exchange.
Topics: 1031 like-kind property, 1031 exchanges, 30 Year Leases
We have discussed many of the benefits of a tax-deferred exchange but what can a 1031 exchange really do for you? This Friday Free for All will provide an example of the true power of a 1031 tax-deferred exchange. Let’s look at a specific scenario and how a 1031 exchange can benefit the seller.
Read MoreTopics: tax consequences of a 1031 exchange, 1031 exchanges, 1031 Exchange Benefits
On this Wealth Building Wednesday, we would like to take a moment to remember all the heroes who have fought for our independence, freedom and unity. The brave men and women who have laid down their lives for our country deserve to be remembered not only today, but every single day.
Read MoreTopics: Fourth of July
This Friday Free for All we will go back to basics. We will look at 1031 tax-deferred exchanges, what they are, their benefits, how they work and the rules involved.
Read MoreTopics: like-kind property, benefits of 1031 exchange, 1031 exchanges, 45-Day Identification Period, Same Taxpayer Requirement
We recently purchased a new home and our real estate agent was a key part of the process. Whenever buying or selling a property, advisors such as your real estate agent and accountant are crucial. This Thankful Thursday, we discuss the role of your professional advisors and why they are an important part of your 1031 tax-deferred exchange.
Read MoreTopics: tax consequences of a 1031 exchange, 1031 exchange process, Qualified Intermediary (QI), 1031 Exchange
I recently purchased a new home and have started thinking about long-term investment goals including eventually converting my home into a rental property or even keeping it as a second home. There is another tax strategy that I could take advantage of down the road. Today’s Wealth Building Wednesday discusses the principal residence exclusion which allows homeowners to have a gain on the sale of their primary residence.
Read MoreTopics: 121 primary residence exclusion, capital gains, 1031 Exchange, 1031 Replacement property
Exchangers often have questions about identifying replacement property. Today’s Tuesday Tip will discuss 1031 tax-deferred exchange identification guidelines.
Read MoreTopics: 1031 like-kind property, 45-Day Identification Period, 200% Value Rule, Three property rule, Exchange identification rules
When Exchangers call our 1031 CORP. Exchange Team they often ask us what assets qualify as like-kind replacement property in a tax-deferred exchange. Rental units, office buildings, duplexes and warehouses are typically properties that come to mind. This More, More Monday addresses oil, gas and mineral rights, lesser-known assets that are growing in popularity among Exchangers.
Read MoreTopics: 1031 Exchange, Minerals, 1031 exchange of gas & oil royalties, GMO, Like-kind requirement
One of the many benefits of a tax-deferred exchange is the ability to defer capital gains taxes when selling and acquiring like-kind real property. This Friday Free for All discusses ways to maximize your tax deferral by minimizing taxable “boot.”
Read MoreTopics: section 1031, 1031 equal or greater value and equity, 1031 gain, 1031 exchange closing costs, 1031 exchanges