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1031 Tax Exchange
A tax deferred exchange allows you to preserve your wealth through reinvestment in "like kind" assets. It's a powerful tool - a tool that can work to your financial advantage.
When you sell your interest in investment property, you may incur federal capital gains taxes and, in some states, state taxes as well. Your attorney, tax advisor, or real estate professional may suggest a tax-deferred exchange under section 1031 of the Internal Revenue Code.
A tax-deferred exchange allows you to dispose of investment properties and acquire "like kind" properties while deferring federal capital gains taxes. Most states with a capital gains tax offer a similar tax advantage too. Bottom line: a tax deferred exchange allows you to reinvest sales proceeds that would otherwise be paid to the government in the form of taxes.
For more detailed information contact Pat Candito of the Candito Group at
pfcandito@johnrwood.com. She will be happy to assist you with 1031 Tax Exchange properties.
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