Like-Kind Exchange Within the United States Under IRC §1031, U.S. taxpayers can freely exchange investment properties within the 50 states and the District of Columbia. This means that a property owner in California can trade their property … View more >>
Understanding FIRPTA: Foreign Investment in U.S. Real Estate The Foreign Investment in Real Property Transfer Act (IRC §1445 & Treasury Regulations §1.1445), commonly referred to as “FIRPTA,” is a federal law that imposes withholding requirements on certain … View more >>
Underperforming real estate assets encompass a wide range of properties, including those in dire need of maintenance or updates, properties with high vacancy rates, or those situated in unfavorable locations. However, savvy investors can leverage the power … View more >>
Depreciation plays a vital role in determining the adjusted basis of property, making it a crucial element in the non-recognition provisions of IRC §1031. It enables taxpayers to deduct a reasonable amount for the wear and tear … View more >>
When purchasing real estate, buyers typically include an earnest money deposit with their offer to the seller. The deposit may be refundable or non-refundable, depending on the conditions of the purchase agreement. In general, the delivery of … View more >>
For qualified California residents and business owners, the next several months of 2023 are one of the best times in recent memory to begin a 1031 exchange. The reason for this is the recent 1031 exchange deadline … View more >>
The IRS has issued further postponements of the 45-day and 180-day deadlines as follows: New California Postponement for disaster beginning December 27, 2022: Alameda, Butte, Calaveras, Colusa, Contra Costa, Fresno, Glenn, Humboldt, Los Angeles, Marin, Mendocino, Merced, … View more >>
For real estate investors, being able to access the equity that has accumulated in their portfolio can be very important. One of the most common methods for doing so is a cash-out refinance. For those who are … View more >>
The IRS has issued a disaster relief notice for the state of California relating to the severe winter storms, flooding, and landslides that began January 8, 2023. Counties in which Affected Taxpayers are entitled to relief: Alameda, … View more >>
When engaging in a 1031 Exchange, the taxpayer must identify their replacement property(ies) within 45 days of closing on the sale of their relinquished property. This requirement raises a myriad of questions, such as: How exactly do … View more >>
If the sale of your Relinquished Property closed on or between October 18, 2022 and December 31, 2022, the standard 180-day exchange period will be shortened. However, you can file for a tax extension by April 15, 2023 to … View more >>
Definition The term “boot” is broadly defined as a taxpayer’s receipt of non-like-kind property in a 1031 exchange. As discussed more fully below, boot can come in many different forms. However, it is important to note that … View more >>
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