1031 Tax Deferred Exchange Services
"The IRS Section 1031 Tax Deferred Exchange is one of the best tax loopholes ever."
The current federal top marginal tax rate on long-term capital gains in the United States is 23.8%. (20 percent & top rate plus 3.8% tax on unearned income to fund the Affordable Care Act). In addition, taxpayers have to pay state and local income taxes on their capital gains income from zero percent in states that do not levy an individual income taxes, to as high as 13.3% in California.Capital gains taxes in Minnesota are 30.9 percent! On a $1,000,000 profit, an investor in Minnesota will write two checks to the Government. One for $238,000 to the Feds up in Washington and one for $71,000 to Governor Dayton at the State Capital. Put away that checkbook! The IRC §1031 (1031 Tax-Deferred Exchange) is a tried and true investment strategy that allows an investor to defer capital gains taxes on the sale of an investment property, by following specific IRS guidelines, and reinvest their funds into a replacement property. Sounds easy huh? It could be one of the most difficult and stressful real estate transactions most investors will ever encounter. Ask how we can help assure a successful and qualified closing and spare those tax bills. CLICK for a confidential free consultation. |
1031 Buyer Representation
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