Exchanging Thoughts

YES! The 1031 Deferred Gain May Still Be Forgiven

Posted by Margo McDonnell on Thu, Jan 03, 2013

On this Thankful Thursday, we will still talking about the bill that averted the fiscal cliff which is officially known as the “American Taxpayer Relief Act of 2012.”  Yesterday’s post provided an overview of the bill but today we are discussing what 1031 exchangers are most interested in: CAPITAL GAINS and ESTATE TAXES.

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Topics: Fiscal Cliff, 3.8% Medicare Tax, benefits of 1031 exchange

Over the Fiscal Cliff…1031 to the Rescue!

Posted by Margo McDonnell on Wed, Nov 28, 2012

On this Wealth Building Wednesday, we are going to talk about the Fiscal Cliff – just like everyone else! 

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Topics: 3.8% Medicare Tax, benefits of 1031 exchange

A New Tax Scheduled to Kick-in January 1st

Posted by Margo McDonnell on Fri, Oct 05, 2012

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Topics: 3.8% Medicare Tax, benefits of 1031 exchange

Effect of New Health Care Law on Real Estate Transactions

Posted by Margo McDonnell on Wed, Jul 18, 2012

Included in The Health Care and Education Reconciliation Act of 2010, signed into law on March 30, 2010, is an "Unearned Income Medicare Contribution" that impose a 3.8% tax on all unearned income, including any profit on the sale of real estate.   It is not a real estate sales tax or national transfer tax but depending on your income level, the new tax may apply to you.  The new tax applies to all unearned income you have regardless of whether or not it is related to real estate. 

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Topics: 3.8% Medicare Tax, tax-deferred exchanges, national transfer tax, health care law tax increases, 1031 exchanges