If you're looking for a way to leave a lasting legacy for your heirs, real estate is a great option. Not only will your heirs receive the properties you pass down to them, but they'll also benefit from any appreciation that occurs over time.
When it comes to selling assets for a profit, it's important to be aware of capital gains taxes. Essentially, if you sell an asset for more than you paid for it, you may be subject to paying capital gains tax on the profit. This can include anything from stocks and bonds to real estate or even your car.
As any savvy investor knows, deferring taxes is a key part of building wealth. And that's exactly what Section 1031 of the Internal Revenue Code enables business owners and investors to do.
A 1031 Exchange is a great way to invest in real estate without incurring capital gains taxes. However, there are some restrictions on what types of property can be exchanged.
Brazos County attorney and 1031 intermediary Chris Peterson shares the 5 most important questions to ask before you decide to flip your first house.
When you sell a capital asset for more than it cost when you purchased it, you experience a capital gain. Capital assets include equities, bonds, precious metals, gems, and property.
Many investors are unsure of how long they should keep their tax records pertaining to a 1031 Exchange. Do you hold them for a few years, 10 years, or forever? We'll discuss how long to keep your tax documents when you engage in this type of transaction.
When starting the 1031 Exchange process, real estate investors express concern about the IRS requirement that a property be exchanged for one that is "like-kind." They wonder, "what does like-kind really mean?" and "how similar must the properties be to qualify?"
A 1031 Exchange is a great tool for real estate investors who are looking to defer their capital gains taxes. However, there are a few things you should know before you try to do one.
Selling a property brings with it a heavy tax load. Attorney Chris Peterson explains how you can minimize the taxes you pay when selling an income-producing property.
Attorney Chris Peterson explains the role of an Intermediary and why working with a Qualified Intermediary is so important when completing a 1031 Exchange.
Chris Peterson of Brazos1031 Exchange explains the most important things to consider when creating a real estate investment plan.
Attorney Chris Peterson walks you through the important aspects of selling an investment property and how to know when is the right time.
1031 Exchanges can be complex transactions. Attorney Chris Peterson explains the different types of 2031 Exchanges along with the rules and regulations involved.
Attorney and Intermediary Chris Peterson explains which types of property are eligible for a 1031 exchange and which are not.
Attorney Chris Peterson shares important tips and tells you what you need to know to be successful as a rental property investor.
Attorney Chris Peterson explains the rules around buying a vacation property through a 1031 exchange.
When it comes to real estate investments, there are a few different types that you can choose from. Each has its own benefits and drawbacks, so it’s important to understand the differences before you make a decision.
A question we often receive from real estate investors is, “how long do I have to complete a 1031 Exchange after the sale of a property?” The answer to this question is actually quite simple.
The term "1031 exchange" refers to Section 1031 of the Internal Revenue Code. It's not a tax loophole, despite what some people think. Instead, it's a completely legal option that allows you to sell your investment property and avoid capital gains taxes if you reinvest the proceeds in a "like-kind" property or properties within a set amount of time.
One huge mistake people often make with a 1031 Exchange is the failure to hire someone independent to act as an exchange agent.
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