Could knowing IRS Tax Code 1031 save Tax Payers Millions of Dollars?
Los Angeles, CA (PRWEB) February 03, 2015 -- What is a 1031 exchange?
“Whenever you sell business or investment property and you have a gain, you generally have to pay tax on the gain at the time of sale. IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. Gain deferred in a like-kind exchange under IRC Section 1031 is tax-deferred, but it is not tax-free.” -IRS Website
With the Fed Rate at the lowest it’s been in 5 years, real estate is changing hands at a rate much faster than the market has seen for many years. In Los Angeles, many of investment deals are done in cash, amounting to millions of dollars of property sales.
Selling a property for 3Mil dollars that was bought initially for 1Mil would give investor a 2Mil dollar capital gain and immediately trigger almost 1Million dollars in taxes. With IRC Tax Code Section 1031 real estate investors/owners can defer this taxable income and invest it into another property.
Real Estate investors live and die by ROI (Return on Investment). “What is my Return On Investment? What is the Cap Rate?” Though these remain key questions amongst Real Estate Investors, one question that is not so likely mulled over is, how much tax am I paying to sell my properties? Fact is, if you are not considering a 1031 exchange when selling properties, well then you are losing a lot of potential income.
Rusty Tweed, CEO of TaxGuard1031, has created a new seminar series, educating the public on the ins and outs of this tax code. Rusty Tweed is a 20+ year veteran with real estate, as well as, an securities licensed financial broker. When asked about his reason for starting this new seminar series appropriately labeled ‘Estate Development’ (ED) talks, he stated, “My clients are still surprised to see the hundreds of thousands of dollars they save working with us on doing their exchanges.”
These free events kick of next week February 11th and 12th at the Crowne Plaza in Redondo and the Marriott in Pasadena, respectively, with Lunch and Dinner seminars on both days.
To learn more about TaxGuard1031 and join seminar, visit http://taxguard1031.com/joinseminar/
TaxGuard1031 is a Real Estate Company dedicated to guiding investors and brokers alike through the 1031 exchange by assisting them or their respective clients in finding properties and “off market” deals exclusive to TaxGuard1031, and keeping more money in the investors’ hands and out of the IRS’s hands, at least for now.
"Securities products offered through Concorde Investment Services (CIS), Member FINRA/SIPC. Advisory services offered through Concorde Asset Management, LLC (CAM), a SEC registered investment advisor. TaxGuard1031 is independent of CIS and CAM. TaxGuard1031, CIS and CAM do not provide tax or legal advice. There are material risks associated with the ownership of investments. Some investments are only available to suitable accredited investors. ia-ld-q-12-1-2015"
Sandra Henkel, Director of Public Relations, MJW Group, http://www.mjwmusicproduction.com, +1 6263857795, [email protected]
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