National 1031 Exchange
Too many investment property owners are unaware of the ease with which they could save thousands in capital gains taxes. Section 1031 of the Internal Revenue Code allows for the deferment of capital gains taxes in a like-kind exchange. As long as the like-kind exchange is handled according to the regulations of 1031, capital gains taxes can be deferred for the particular transaction. Federal capital gains taxes can amount to hefty sums. Many sellers are required to pay state-specific income taxes on the sale of business property as well. Fortunately, many states do recognize tax deferral for like-kind exchanges that meet Section 1031 requirements. Until the property received in a like-kind exchange is sold or relinquished in a taxable transfer, the federal government allows for capital gains tax deferral. In most states, state-specific income taxes can be deferred as well. Keep in mind that the like-kind exchange must be set up before the title to the original property is sold. If the exchange is not handled in this manner, it will not be viewed as a 1031 exchange. Once you've set up a 1031 exchange, finding the right investment property is of the highest priority. As there is a time limit for identifying and acquiring replacement property, investors need efficient tools and resources to find the right properties in a rapid manner. At TM 1031 Exchange, we seek to help with this process, connecting investors with investment properties. We can help you to locate properties that fit your investment goals and parameters, without unnecessary delays and hassles. To obtain further details about TM 1031, call toll-free 1-877-4TM-1031 or e-mail us team@tm1031exchange.com
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