Exchanging Thoughts

Exchanging Up and Increasing Cash Flow

Posted by Ellie Trovato on Wed, Jun 06, 2018

If you are reading this blog, you likely already know that a 1031 exchange allows you to defer the gain on the sale of a business use or investment property when exchanging it for like-kind property. What you may not know, is that it can allow you to exchange up, increasing your revenue stream and overall profitability. This Wealth Building Wednesday discusses the exchange of vacant land held for investment use into like-kind, revenue producing property.

Read More

Topics: Diversification, 1031 like-kind property, like-kind property, benefits of 1031 exchange, vacant land & 1031 exchange, vacant land, investment property

Top 1031 Exchange Misconceptions

Posted by Ellie Trovato on Tue, Jun 05, 2018

They say that knowledge is power and, nowadays, knowledge is at our fingertips. You can pick up your smartphone and find anything you wish by asking Siri or searching Google. Unfortunately, that doesn’t necessarily mean that Siri or Google are providing accurate information. The Exchange Team at 1031 CORP. are often asked to clarify misconceptions about 1031 exchanges. In today’s Tuesday Tip,  we will address the most common misconceptions about 1031 exchanges and make sure you know the truth so you can put the power of 1031 to work for you.

Read More

Topics: tax-deferred exchanges, 1031 like-kind property, 1031 made easy, 1031 exchange misconceptions, Role of Qualified Intermediary, section 1031

Understanding the Same Taxpayer Rule

Posted by Ellie Trovato on Fri, Jun 01, 2018

This Friday Free for All we will discuss an important rule in a 1031 tax deferred exchange: the same taxpayer requirement.

Read More

Topics: 1031 exchange same taxpayer; 1031 same owner rule, Same Taxpayer Requirement, 1031 exchange assignment; 1031 exchange rules, tax consequences of a 1031 exchange, 1031 exchange rules

Time Extensions for Federally Declared Disasters

Posted by Ellie Trovato on Thu, May 31, 2018

With subtropical storm Alberto blasting the southeastern corner of the U.S and hurricane season right around the corner, it is important to know how Mother Nature’s unpredictability can affect your tax deferred exchange. Today’s Thankful Thursday addresses Section 17 of Revenue Procedure 2007-56 which provides extensions to exchange deadlines if you are affected by a federally declared disaster.

Read More

Topics: 1031 Exchange, Federally Declared Disasters, identifying 1031 replacement property, 45-Day Identification Period, Rev Proc 2007-56

Make Them Work for You: Vacation Homes

Posted by Ellie Trovato on Mon, May 28, 2018

We are all ready for some warm weather. The sun. The beach. Sand in our toes. In today’s More, More Monday we are going to take a look at how vacation homes can work in a 1031 tax-deferred exchange and, even one day, be converted to a primary residence.

Read More

Topics: 1031 exchange vacation home, vacation home exchanges, vacation home

The Often Overlooked Benefits of 1031s

Posted by Ellie Trovato on Fri, May 25, 2018

A 1031 exchange allows the seller of a business use or investment property to defer the gain as long as a like-kind business use or investment property is acquired. This Friday Free for All, we will look beyond the deferred gain and review the many benefits of a 1031 exchange.

Read More

Topics: section 1031, benefits of 1031 exchange, tax-deferred exchanges

Diversify, Relocate, Consolidate…Yes, you can!

Posted by Ellie Trovato on Thu, May 24, 2018

Today everyone wants the latest and greatest of everything from homes to cars and electronics. Why not want the same for your real estate portfolio? On this Thankful Thursday, we are grateful for the true diversification of real estate assets a 1031 exchange provides.

Read More

Topics: 1031 like-kind property, like-kind property, Diversification of real estate assets, Relocation, Diversification

Step it up with Estate Planning

Posted by Ellie Trovato on Wed, May 23, 2018

I have started to think about estate planning. I have two children and I want to make sure they are taken care of. One of the many (great!) benefits I have learned about 1031 exchanges is that they are a great estate preservation tool. Today's Wealth Building Wednesday is about using 1031s to build and preserve wealth.

Read More

Topics: estate planning, section 1031, 1031 exchanges

The Role of the Qualified Intermediary and the 1031 CORP. Advantage

Posted by Ellie Trovato on Tue, May 22, 2018

Whether you are playing a game, handling a transaction or running day to day operations in your office, it is always important to surround yourself with dedicated professionals working toward a common goal. The same is true in a 1031 exchange.  Today’s Tuesday Tip will address the role of the Qualified Intermediary (QI) and why it is important to do your research when choosing a QI.

Read More

Topics: regulation of QIs, Qualified Intermediary (QI), 1031 exchange; Role of Qualified Intermediary, 1031 CORP., Role of Qualified Intermediary, section 1031, Qualified Intermediary

Step by Step, Keeping the Exchange Process Simple for You

Posted by Ellie Trovato on Fri, May 18, 2018

Every day we receive calls about how a 1031 tax-deferred exchange works and what steps are involved. On this Friday Free for All, I want to take a look at the exchange process and how simple it really is. In fact, it is simply the sale of business use or investment real property followed by the purchase of like-kind property linked together by paperwork.

Read More

Topics: tax-deferred exchanges, 1031 like-kind property, 1031 exchange process, section 1031, 1031 Exchange