by Admin Walsh
on Saturday, December 14th, 2019 at 10:45am.
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.
Want to learn how you can trade and defer payment of taxes? Contact me today to discuss your property’s 1031 exchange potential. Send me a message or give me a call at 231.459.3179 to learn more today.
Brook Walsh is from Northern Michigan and understands lifestyle based real estate investing which is one of the reasons he's chosen to pursue his dream of helping real estate investors with their home buying needs.