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 >>
It appears that a $500,000 cap on capital gains deferral allowed under § 1031 of the U.S. Tax Code may no longer be part of the $3.5 Trillion Budget Reconciliation Bill making its way through congress. The … View more >>
Recently, the White House released the details of its American Families Plan, which includes a $500,000 cap on like-kind exchanges in order to pay for the proposal. In a recent communication from The Federal of Exchange Accommodators … View more >>
Savvy investors over the years have leveraged the benefits of the 1031 Exchange for reasons that far exceed its primary purpose of deferring capital gains taxes. “Like-Kind” exchanges are becoming more popular not only as a proven … View more >>
If the sale of your Relinquished Property closed on or between October 18, 2020 and December 31, 2020, the standard 180-day exchange period will be shortened. However, you can file for a tax extension by April 15, … View more >>
Beginning January 1, 2018, the Tax Cuts and Jobs Act (TCJA) amended IRC section 1031 to limit its application to exchanges of real property thereby eliminating personal property exchanges from its purview. It is therefore now more … View more >>
For an exchange to satisfy IRC §1031, the taxpayer that will hold the title to the Replacement Property must be the same taxpayer that held title to the Relinquished Property. However, business considerations, liability issues, and lender … View more >>
There are some instances where, for tax purposes, real property can be treated both as property held for investment or business purposes and as a primary residence. This can result in the exclusion and/or deferral of capital … View more >>
Sometimes it is necessary or desirable for an Exchanger carry back a promissory note upon the sale of their relinquished property. This is generally the result of the buyer’s inability to secure adequate financing to purchase the … View more >>
All real estate owners and investors are concerned about how they can reduce and/or defer their taxes. Cost segregation studies and 1031 Exchanges are two powerful tax strategies that investors can utilize to both reduce operating expenses … View more >>
IRC Section 1031 allows for the exchange of several properties into one or more replacement properties. Exchangers, however, need to be aware of the following rules that can make planning for such an exchange challenging: The 45-day … View more >>
The Improvement Exchange is a powerful strategy that enables an investor to make improvements to a replacement property, and utilize the value of those improvements, in a 1031 exchange. Also known as a “construction” or “build-to-suit” exchange, … View more >>
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