1031 Exchange is HUGE!

2 years ago
16
taxes taxhelp taxexpert businessadvice llc irs smallbusinessadvice smallbusiness taxwriteoff taxreduction taxstrategy

1031 Exchange is a HUGE way to kick taxes down the road to a later date. Called deferring your capital gains.
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Keep two things in mind.
1. There are VERY detailed rules you must follow to the letter.
2. 180/45 (that's not a fraction). You have 180 total days to complete the transaction, and only 45 days to ID the replacement.
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Don't follow the rules, you burn your own bridge.
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Now that’s HUGE!!

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