What is a 1031 Exchange?
A 1031 Exchange is a money-making and tax management plan that utilized a great many variables and they thinking of embarking upon one, you should first always consult with a legal and/or financial advisor to ensure that you understand the nuances of this complex procedure.
A 1031 Exchange enables an Investor to one of more properties - rental, investment, or personal - and, by taking hold of one or more replacement properties, defer payment of depreciation recapture and capital gain taxes. As a result, an Investor is able to maintain all of the capital involved in their transaction in play - enabling the possibility of additional revenue - as opposed to paying depreciation recapture and capital gain taxes, which can relieve an Investor of up to a third of their profits overall.
Requirements for a 1031 Exchange are varied and very scrutinized by authorities, and failure to meet all of them will disqualify the Investor from utilizing one.
Disclaimer: 1031 exchange made simple does not guarantee the performance of the QI's in our referral network and we can not be held liable for any misrepresentations or mistakes in regards to a 1031 exchange by one of the QI's that we refer to you. 1031 Exchange made simple does not provide tax advice nor can we make representations regarding the tax consequences of an exchange transaction. 1031 Exchange made simple is a 1031 QI Referral Network. 1031 made simple is not responsible (in any way) for the performance, creditability, and financial condition of any QI in our network. In this new economic environment it is imperative that all potential 1031 exchange customers do their own due diligence and research on any QI that they may use, on a 1031 exchange. Please verify and check the validity of the Bonding and Insurance of your QI. It may be wise to have your 1031 exchange accounts set up as separate, individual customer accounts. Our web site is to be used as a information based web site only. All parties doing a 1031 exchange must consult their tax advisors or attorney for this information.
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