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  • What is a 1031 Exchange?
    The IRS has an exchange provision that allows you to put the extra money you make off the sale of real estate into another equal or higher value property without paying taxes on the capital gains. You...
  • Capital Gain on sizable gain
    If you first receive income subject to estimated tax during a period other than the first quarter, you must make your first payment by the due date for the period the income is received. You can pay your...
  • Understanding Basic Tax Terms
    If your like many, you dont always understand what people are talking about when it comes to Taxes. Its important to know the main tax terminology, especially when tax season comes around. Knowing the...
  • Capital Gain on principal residence that was rented
    If, during the 5-year period ending on the date of sale, you owned the home for at least 2 years and lived in it as your main home for at least 2 years, you can exclude up to the maximum dollar limit....
  • What is Tax-Deferred Exchange?
    Under Section 1031 of the Internal Revenue Code, owners of real estate held for investmentor use in a trade or business can swap their property tax-free for "like-kind" real estate.Exchanges are made for...
  • Tax Provision Blamed for High Land Prices
    ST. LOUIS - After working on a northern Illinois farm thats been in his family for 151 years, Rob Sharkey itched to break out on his own. That is, until land prices ballooned The 31-year-old Stark County...
  • 5 Steps to a Successful 1031 Exchange
    It is unbelievable to sell your investment property in 6 months for $400,00 more than you paid for it and not pay any tax on the profit. This is a recurring 1031 problem in hot real estate markets, how...
  • Alternative to Investment Property
    New IRS Procedure on 1031 Tax Free Exchange Tenant-in-Common (TIC) Exchanges Smaller investors can now invest in larger, professionally managed real estate and enjoy the benefits of tax shelter, growth,...
  • Capital Gains on property received as a gift?
    To figure the basis of property you get as a gift, you must know its adjusted basis to the donor just before it was given to you. You also must know its fair market value (FMV) at the time it was given...


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