New Partnership Helps Clients Find Suitable Replacement Property
Wednesday, June 15
Dr. Robert Hetsler Jr., J.D., CPA, CVA, FCPA, CFF, MAFF, CMAP, the founder and managing partner of Qualified Intermediary Capital Advisors, a leading provider of qualified intermediary services with offices nationwide, announced today that his company has entered into a partnership with Rockwell ...
Can A Vacation Home Qualify For A 1031 Exchange?
Monday, June 13
One of the trickiest and most confusing areas of a 1031 exchange often involve investors who wish to sell and replace vacation home property. Generally speaking, primary residences (and second-homes) do not qualify for an exchange. However, the IRS does permit some vacation homes to qualify for 1...
Can You Pay Closing Costs With 1031 Proceeds?
Monday, June 13
The better question is…can I pay closing costs with 1031 exchange proceeds and avoid boot. The answer is yes.Although the IRS is often quite draconian when it comes to disallowances surrounding a 1031 exchange, when it comes to paying closing costs they are a bit more lenient. The IRS stipulates ...
Six Top Tips For Identifying Your Exchange Replacement Property
Sunday, June 12
There is no argument that the IRS is quite strict when it comes to applying the rules governing 1031 exchanges. Every year, hundreds of proposed exchanges fail because the investor fails to meet one of the requirements set forth in the code.One of the biggest areas where mistakes are made? Identi...
Two Key Players You Need In Every 1031 Exchange
Wednesday, June 08
There is no arguing that a 1031 exchange can be the fastest way for an investor to build up his or her real estate portfolio. The tax-savings on capital gains means more dollars to invest in bigger and better properties – properties that have the potential to generate even more income down the ro...
Accurate Record Keeping Is Essential In A 1031 Exchange
Wednesday, June 08
The whole point of a 1031 exchange is to allow for the deferral of capital gains tax on the sale of investment or business property. When done correctly, a series of subsequent exchanges can allow an investor to defer capital gains taxes for decades and even indefinitely in limited situations.How...