Does a property flip qualify for a 1031 exchange?
Thursday, August 10
When it comes to meeting the requirements of section #1031 of the U.S. Tax Code, one key element that the IRS will scrutinize is the taxpayer’s intent. This is especially true when it comes to determining whether property has been held for investment purposes.With the popularity of house flipping...
Planning for Retirement for the Self-Employed Rancher
Wednesday, August 09
For families who have farmed or ranched a homestead for multiple generations, one unique concern is how to adequately plan for retirement. And even though places like the wide open spaces of Montana and Wyoming come to mind, this is an especially important topic for other places like rural #Flori...
1031 Exchanges: What's Good Faith Got to Do With It?
Tuesday, August 08
Nothing, as it turns out.You may have carefully planned your exchange down to the last detail. You’ve noted the deadlines and proceeded with caution. But even the savviest investor can hit a roadblock along the way.So how forgiving is the IRS when it comes to consideration of extenuating circumst...
Should REITs Be Concerned About 1031 Repeal?
Saturday, August 05
Although the current Republican plan for tax reform, the Better Way blueprint, does not directly address repeal of section #1031, it does provide for immediate expensing of business investments. This is leaving many to wonder what role, if any, section 1031 would have after such a rule would go i...
What Is a 1031 Exchange Cooperation Clause?
Wednesday, August 02
If you’re planning a 1031 exchange to sell and replace investment or business property, there is one often overlooked yet important concept you should understand. It is how and when to include an Exchange Cooperation Clause in your contracts for sale.Why is this clause important? An Exchange Coop...
When Can You Refinance After a 1031 Exchange?
Tuesday, August 01
One question my exchange clients often ask is when and how they can refinance their replacement property without triggering IRS attention (and potential tax liabilities).The good news is, that with a bit of pre-planning, you can complete a tax-free #1031 exchange and then refinance immediately af...