by William Horan | Aug 26, 2013 | Federal Law, State Law
Connecticut passes a QI law impacting qualified intermediaries. The law goes in effect October 1, 2013. More info and detials here https://www.1031.us/connecticut-passes-qi-law/
by William Horan | Oct 13, 2012 | Tax Impact
1031 Exchange Strategy An individual can do a 1031 exchange and reduce the 3.8% Medicare tax. A lot has been written on the impact of the 3.8% surtax on the “unearned income” of high income taxpayers. It is neither a real estate sales nor a transfer tax. If you sell...
by William Horan | Jul 2, 2012 | Reporting
Reporting a loss in a 1031 exchange. To avoid paying a large tax on recaptured depreciation, many qualified taxpayers do a 1031 exchange when they have a loss. Usually due to a low adjusted basis resulting from taking a lot of depreciation. The question is, how do...
by William Horan | Jun 10, 2012 | Tax Impact
For a number of years efforts have been made to get real property owners exempt from the registration requirement of the Nationwide Mortgage Licensing System and Registry. The new Virginia law HB572 does the job. It exempts “persons who make loans or extend credit for...
by William Horan | May 2, 2012 | Process
The “Drop and Swap” term “Drop and Swap” is a term used to describe the process of dropping out of a partnership or membership interest of a limited liability company (LLC) into an ownership interest in investment real estate and then exchange or swap for new...
by William Horan | Aug 1, 2011 | Process, Reinvestment Requirements
The answer is a simple YES! Because of the economy and cash flow concerns, some investment property owners are thinking of selling their property at a loss and not doing a 1031 exchange. It is important that as owners and investors we know the tax consequences of such...
