articles in the |
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series...
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1031
Transactions, like many things
in
life, are perfectly safe when
executed properly... BUT,
if the QI is inexperienced,
dishonest, or simply doesn't
know what he is doing, things
can get ugly very fast --
and not just for the QI! Read
the "EXCHANGER
BEWARE" series
so you know what to watch
out for in a Qualified Intermediary...
"Exchanger Beware..."
Intermediary's Commingled
Account Destroys Clients'
1031 Exchanges
- by Gary Gorman, in The Colorado
Real Estate Journal, 02.18.04
Another
1031 Intermediary Steals Client's
Exchange Money
- by Gary Gorman, in The Colorado
Real Estate Journal, 06.16.04
Court
Puts Commingled 1031 Exchange
Funds at Risk
- by Gary Gorman, in The AZREIA
Advantage, 09.04 |
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What
is a 1031 Exchange?
1031
exchanges are specifically structured
transactions that join together the sale of
an old property and the purchase of a new property
for the purpose of deferring taxes.
Exchanges
are primarily used for buying and selling investment
real estate, but they can also be used for personal
property that is used in a business. Examples
of qualifying property include bare land, rental
property, commercial buildings and homes other
than your primary residence.
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How
Can a 1031 Exchange Work for Me?
A
1031 exchange can defer the capital
gain taxes that are due when you sell property
that has increased in value or been depreciated
for tax purposes. These federal and state capital
gain taxes can be costly.
Internal
Revenue Code Section 1031 can
benefit you in several other ways. By deferring
taxes, you have increased flexibility, leverage
and buying power. Exchanges also allow you to
change, diversify or consolidate your investments
What
Makes a 1031 ExpertExchange Different?
What
many QIs don't want you to know is that
their industry is largely unregulated. Without
standards, they can offer you little assurance
of their training and qualifications. In fact,
they will do little more in an exchange than fill
in the blanks on generic forms.
But
The 1031 Exchange Experts are
different: we do ExpertExchanges. All of our exchanges
are handled by a team of CPAs and real estate
attorneys. Choosing our licensed professionals
ensures that the education, knowledge and ethical
standards of our team have passed rigorous testing.
You
can trust our experience as well. We've completed
thousands of qualified 1031 exchanges.
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| Don't
just take our word for it. Our Experts are published
across the country and cited in national publications
like The New York Times, The Wall Street
Journal, The Chicago Sun-Times, Forbes and
Bloomberg's Wealth Advisor. So
that's why they say The 1031 Exchange
Experts are writing the book on 1031 exchanges.
How
Can I Get Started?
All
it takes is a phone call or e-mail
and The 1031 Exchange Experts
will go to work for you. We are ready to provide
further information and answer any of your questions.
| Here's
How a 1031 ExpertExchange Works:
•
Our experts consult with you
on how to best structure your exchange
— always considering your particular
situation.
•
We meticulously document your
exchange to meet all IRS
requirements.
•
We coordinate with your realtor,
attorney, CPA and closing agent
to properly complete the exchange.
•
We keep everyone informed
at critical points throughout the
process with our exclusive 1031 TouchPoints
program. |
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No
other QI in the industry offers you the expertise,
service, and protection of The ExpertExchange!
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