Advanta IRA Administration of Atlanta, Georgia Hosts Lunch and Learn with John Mangham of EpiCity: Saving Taxes in a Self-Directed IRA and Saving Out with a 1031 Exchange

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Section 1031 of the Internal Revenue Code provides that no gain or loss will be recognized on the exchange of any type of business-use or investment property for any other business-use or investment property. When properly executed, investment real estate can be sold and another property of equal or greater value may be purchased without incurring capital gains taxes.

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It is critical investors become knowledgeable of the rules of 1031 exchanges in order to be successful and also to avoid penalties by the IRS.

While 1031 exchanges typically involve real estate, these exchanges are not limited to real estate. Simply put, the IRS allows you to exchange one like-kind investment or asset for another. Normally in doing so an individual or IRA might incur capital gain tax—unless the exchange falls within section 1031 allowances. Section 1031 allows those tax implications to be withheld for a long period of time until the asset is actually sold for cash. 1031 exchanges are limited to business and investment property and cannot be used for personal gain. In other words, when real estate is involved, one cannot exchange a primary residence for another house.

“The use of what is known as a 1031 exchange can significantly impact tax implications—as can investing in real estate using a self-directed IRA,” says Jack Callahan, Managing Partner of Advanta IRA Administration. As easy as it sounds at first glance, there are certain aspects of 1031 exchanges that fall within grey areas where the IRS is concerned. “It is critical investors become knowledgeable of the rules of 1031 exchanges in order to be successful and also to avoid penalties by the IRS,” says Callahan.

In an effort to educate individuals on the terms of 1031 exchanges and also their use within self-directed IRAs, Advanta IRA Administration of Atlanta, Georgia, is holding a lunch and learn seminar on November 15th. This event is led by John Mangham of EpiCity—the South’s most experienced and respected real estate firms.

John Mangham possesses a successful background in accounting and finance, combined with two decades of real estate investment experience. Before joining EpiCity, an Atlanta-based commercial real estate investment and services company, he was President/Owner of Georgia 1031 Exchange Services. Join Mangham and Monte Smith, CISP, of Advanta IRA Administration as they discuss strategies that might help investors save money in the selling and buying of investment real estate, inside an IRA and outside of IRAs.

Event: Lunch & Learn – Saving Taxes In a Self-Directed IRA and Saving Out With a 1031 Exchange, Featuring John Mangham of Epicity
Date: November 15, 2013
Time: 11:45am – 1:00pm
Cost: None; Lunch is provided
Location: 3525 Piedmont Rd NE, Bldg 8, Ste 101, Atlanta, GA, United States, 30305
Register: Prior to 5:00pm on Thursday, November 14, 2013, by contacting Teresa Chin.
Contact: Teresa Chin (678) 513-8913 x 1147 / tchin(at)advantairagroup(dot)com

About Advanta IRA

Advanta IRA Services, located in Largo, Florida, has been in operation for over 8 years, providing administrative service to owners of self-directed IRAs throughout the Tampa Bay and Sarasota, Florida regions. Advanta IRA Administration offers a second location serving the Atlanta, Georgia area and surrounding regions. Both offices are managed by Jack Callahan, J.D., CFP™. Advanta IRA offers classes, seminars and other educational tools designed to assist clients in managing self-directed IRAs by investing in real estate, notes, private placements and other non-traditional assets that have the potential to maximize IRA earnings on a tax-free or tax-deferred basis.

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