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Death
& Taxes
We have Information to Help You with Either
Got a Question?
IRS wants you to retire Financially Free! We will answer your questions and give you options about how to become Financially Free when you retire
Tax answers/options when you sell your Home. We will answer your questions about the tax free home sales and give you options on tax free exchanges
So, You got a letter from IRS? We can help. Letters from IRS are scary. We will answer your questions at no charge.
S-Corp, LLC, C-Corp, Partnership - Your Choice? Selecting the correct Business Entity is confusing. We will give you the tax options of each Business Entity.
How not to pay taxes when you sell income property. We will explain how to do a tax free exchange & not pay taxes when you sell your income property.
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PetroSun Acquires 1031 Energy (Market Wire via Yahoo! Finance)PetroSun, Incorporated announced today that the company has completed the acquisition of all of the member units of 1031 Energy, LLC of Denver, Colorado. 1031 Energy specializes in placing 1031 tax deferred real estate investors into producing oil and gas properties.
Free Real Estate Investor Workshop Is Planned (The Ledger)A free real estate investor workshop is planned for Thursday from 6:30 to 8 p.m. at the Comfort Inn, 3520 U.S. 98 N., Lakeland. Criteria for identifying investment opportunities and when to use a 1031 exchange will be part of the program. The workshop is sponsored by the Johnson Team with Keller Williams Realty. Register at 604-9014.
PetroSun Acquires 1031 Energy (SYS-CON Media)PetroSun, Incorporated (PINKSHEETS: PSUD)announced today that the company has completed the acquisition of all ofthe member units of 1031 Energy, LLC of Denver, Colorado. 1031 Energyspecializes in placing 1031 tax deferred real estate investors intoproducing oil and gas properties. The members of 1031 Energy received150,000 shares of PetroSun restricted common stock as consideration forthis ...
Business briefs (Tallahassee Democrat)Stewart Title is sponsoring and teaching free 1031 tax-exchange classes at the offices of the Tallahassee Board Realtors on Tuesday. Basic and advanced classes are available and count toward licensure continuing education. Registration is required for the limited enrollment and must be arranged by calling (850) 422-2960. The basic class begins at 10:30 a.m. and the advanced class starts at 2 p.m.
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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 can’t do this on your primary house, but you can on a beach condo or a rent house. There are some things the experts suggest you do. Get what the IRS calls a “Qualified Intermediary.” They will charge between $500 and $1500 for the deal. They escrow the money from the time you sell to the time you buy the new property. You must trade up within 45 days of selling and close the deal within 135 days. Make sure your “QI” is bonded and insured for negligence and fraud. Watch the details. For example, if you bought a property for $200,000 and have depreciated it out for taxes to $100,000. Now you sell it for $400,000. Think you’ll roll over $200,000? Nope. The IRS says you have to drag the depreciation with you – only $300,000 total. Also, don’t rush to trade up. Sometimes its best just to pay the tax. Don’t end up with something worse or something that appreciates slower than what you had. Its not always a good deal. Check out 1031.org for the Federation of Exchange Accomodators.
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