Exchanging Thoughts

Maximize Your Tax-Deferral by Minimizing Boot

Posted by Ellie Trovato on Fri, Jun 22, 2018

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.”

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Topics: section 1031, 1031 equal or greater value and equity, 1031 gain, 1031 exchange closing costs, 1031 exchanges

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.

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

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.

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

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.

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Topics: section 1031, estate planning, 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.

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

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

Use Section 1031 to Accomplish your 2017 Goals

Posted by Margo McDonnell on Wed, Dec 21, 2016

As the year winds down, many of us are beginning our annual list of resolutions and evaluating our goals.  For some, our goals might include the purchase of a vacation home, diversify our real estate portfolio, increase our revenue stream, retire and maybe even find more time to enjoy life.  Yes, they all sound great but for those that currently own investment property, a 1031 exchange may help you accomplish these goals!

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Topics: section 1031, 1031 Exchange

1031 Exchanges & Mixed-Use Properties

Posted by Margo McDonnell on Mon, Jul 23, 2012

Properties involving mixed uses (combining personal and business use) can be exchanged under section 1031.  The portion of the property used for business use will qualify for tax deferral treatment under Section 1031.  Depending on its use, the portion of the property used for personal use may qualify for the $250,000 ($500,000, if married filing jointly) primary residence exemption (under Section 121).  Additionally, you can acquire a property that would have mixed uses.  Some examples of properties that may have mixed uses are owner occupied duplexes, bed & breakfasts and farms.

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Topics: section 121 exclusion, mixed-use properties, section 1031, 1031 Exchange