When most people sell property of value they have to pay capital gains taxes on the sale proceeds. But section 1031 of the Internal Revenue Code allows you to defer these capital gains taxes and keep your money working for you by investing it into a newer, better property.
1031 Exchange 101
Here’s a short video that briefly explains the elements of a 1031 exchange:
Anyone can use a 1031 exchange to defer taxes – they are not just for big real estate investors. If you want to learn more about how you can defer taxes and keep your money working for you with a 1031 exchange, give us a call today – 877.373.1031.