For those who want to avoid paying Uncle Sam his dues (taxes) in whatever legal and reasonable way possible, a 1031 exchange could be an attractive option. Should you also own investment properties, particularly ones likely to beget a hefty profit (and subsequent tax bill), a 1031 exchange could be an imperative tool in your…
721 Exchange—Real Estate’s Best-Kept Secret
By Philip Michael In real estate, one of the most pro tactics is the 1031 Exchange—also known as the secret behind how Donald Trump and other real-estate developers pay almost nothing in taxes. However, there’s another, little-known tax loophole that Real Estate Weekly, a New York real estate trade publication, calls real estate’s “best kept secret.”…
How to Leverage Real Estate Tax-Deferral Strategies to Grow Your Business
By Michael Malakoff It goes without saying that, all things being equal, having access to a larger pool of money offers you the chance of greater returns. That’s why strategies to defer tax payments are so perennially popular, as a way to grow investments and businesses, larger and faster. With that in mind, a number…
Biden’s Proposal to Limit Like-Kind Exchanges Impacts Small Business
By Tom Wheelwright If you’ve ever owned real estate, you’ve likely heard of the 1031 exchange, also known as a like-kind exchange. Essentially, this allows business owners or investors to sell a property, acquire a new one and not pay tax on the property they sold as long as it is equal to or greater in…
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Proposed Tax Code Change Likely to Cause Higher California Rents
Commentary Southern California is expected to build 1.5 million new homes throughout the next eight years. That was the finding of a recent pronouncement by California’s department of housing and community development. Even so, President Joe Biden’s administration is proposing a change in the federal tax code that could severely limit the likelihood that such…