by William Horan | Mar 24, 2020 | Extensions, Realty Exchange Corporation
Many of our clients are contacting us regarding the status of their 1031 exchanges due to the ongoing measures being implemented in response to the COVID-19 pandemic. We are monitoring the situation closely and wanted to provide an update to our clients regarding the...
by admin | Jan 31, 2019 | Tax Reform
Bill Horan pictured. The general public and professional practitioners do not know how close we came to losing 1031 exchanges in the last tax reform, even though tax-free exchange of property has been in the tax code since 1921. For several years we have been on the...
by admin | Jan 31, 2019 | Law, Regulations
Final 199A Regulations As part of implementing tax reform, Congress gives Treasury the job to provide regulations interpreting the new law. A new component of the tax law, 199A, provides pass-through businesses the ability to deduct 20% of their qualified business...
by admin | Jan 31, 2019 | Revenue Procedure
In October 2018 Ed Horan submitted commentary (https://bit.ly/2RAYyYs) requesting Treasury clarify that rental property owners will qualify for the new 199A deduction. His comments were also picked up by TAX NOTES, a national tax news service. With the final 199A...
by William Horan | Feb 9, 2016 | Realty Exchange Corporation, Tax Reform, Treasury
President’s 2017 budget limits more 1031 exchanges The President’s 2017 budget proposes the capital gain deferred on 1031 exchanges of all property be limited to one million dollars, per taxpayer, per year, effective at the end of 2016. This change is a dramatic...
by William Horan | Jan 23, 2016 | Federal Law, ID and Exchange Period, Realty Exchange Corporation
1031 Exchangers should anticipate settlement delays with some delays caused by the new TRID Closing Procedures. A recent NAR survey of real estate agents found nearly one-third of all transactions encounter a delay of some sort. The majority of the delays were from...
