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Selling a property and dreading writing a check to the IRS on the capital gains? There is a way you can DEFER capital gains on real estate. It is written in the Code of the IRS as Code Section 1031, or 1031 exchanges, as they are commonly known. What is a Section 1031 exchange? Learn more here:
Our guest for this podcast is Michael Brady. Michael is the Vice President and Corporate Council for Riverside 1031, and a Certified Exchange Specialist. and has over twenty years of experience in dealing with 1031 exchanges. Michael takes us through some of the excellent advantages of executing a 1031 exchange, as well as, the basic concept of a 1031 exchange. He also reveals how a 1031 exchange can help investors defer taxes when selling real estate.
The rules are constantly under fire, however, from Congress. What many don’t understand about 1031 Exchanges, though, is they have far reaching implications in to the economy, beyond just real estate. 1031 exchanges can also be used for capital equipment and other assets. Meddling with the current regulations could have severe consequences for the economy as a whole. Learn what is being proposed in DC, how it will effect the real estate and the implications for the entire economy.
Important points discussed on the show
- A brief history of the concept of 1031 exchanges
- Time Requirements for 1031 exchanges
- How to conduct a 1031 exchange
- FERPA Regulations
- Current rule change proposals out of Washington
- How rule changes will effect Florida.
Quote of The Show
“A relevant topic for everyone in real estate investment.”– Steven
Michael Brady and his company provide their service to all fifty States so if you are looking to contact him…
Also if you are looking to voice your opinion visit 1031taxreform.com and follow the link to send a message to your local representative.