Archive | Section 1031 Basics

Chris Hamilton

Tax Policy, IRC1031 and Politics – By Chris Hamilton

This article was reposted with permission by Chris Hamilton, Law offices of Young Wooldridge, LLP. Click here to contact.  PART 1 This post is the first part of a two-part post describing a vital tax provision, IRC 1031. Part 1 will outline its operation and perceived benefits, while Part 2 will present some of the more common arguments against […]

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When is Cash a Problem?

We are often asked if property can be exchanged and still provide some cash for other immediate needs?  The short answer is yes, however,  If you elect to take cash, it will be immediately subject to significant tax.   The very tax you are trying to avoid is triggered (up to the amount you touch) […]

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“My accountant told me to just pay the tax.......”

“My accountant told me to just pay the tax…….”

We hear this troubling refrain too often.  It seems that many accountants and attorneys will tell their clients that a Section 1031 exchange is cumbersome and just delaying the inevitable. Some advise that the tax rates today are the cheapest you will ever see, “It’s easier to just pay the tax” they say.  In far too […]

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Thinking About Selling Your Vacation Home? The Time To Start Planning is NOW!

There are two types of real estate that can be sold with advantageous tax treatment, your primary residence and your business/investment property. Favorable treatment exists for the sale of a personal residence if the property has been the primary residence of the taxpayer for two of the preceding five years. Section 121 of the Internal […]

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Economic Growth

Section 1031 Exchanges Serve as Vial Stimulant for Economic Growth

PRESS RELEASE — Release Date: April 1, 2013 Section 1031 Like-Kind Exchanges Serve as Vital Stimulant for Economic Growth After several years, real estate values are beginning to recover and activity is steadily increasing. It’s a promising trend that needs to be supported, not thwarted. IRC Section 1031 like-kind exchanges are one of the best ways […]

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