Did you know you can defer taxes on the sale of your investment or business-use property? It’s called a 1031 exchange, and it could save you a bundle if you’re planning on selling.
Internal Revenue Code 1031 allows an owner to sell their investment or business-use real estate property and use the sales proceeds to purchase a replacement property of like kind without a tax on the profit.
If that isn’t enough, 1031 exchanges are an advantageous way to diversify your assets, improve returns on your investments or just free up more capital for future investments.
But the IRS rules for 1031 exchanges are strict and complex. Don’t go it alone, let your local market expert guide you through the process and maximize your investment.…