The IRS provides tax benefits for the sale of real estate classified as either your primary residence (IRC 121) or investment property (IRC 1031). But what about vacation homes?
It is never too early to prepare for a 1031 exchange. There are many options that should be considered when planning for an exchange. Advance planning can help the process go smoother and provide better results for the exchanger.
Sometimes a New England investment property owner may want to sell an investment property and buy another investment property, but the replacement property they seek to purchase is worth less than the property they are selling.
Internal Revenue Code (IRC) Section 1031 allows a property owner, who holds property for “the productive use in a trade or business or for investment,” to defer paying any capital gains taxes if the property owner sells such property, identifies “like kind” property within forty-five days of the sale, and acquires other “like kind” property within 180 days of the sale.
The volume of 1031 Exchange transactions continue to rise year after year, but what’s also been trending is the sharp increase in the need for Reverse Exchanges. With limited available inventory and market aggressiveness, and for those who strategically want to secure the ideal replacement property prior to relinquished property closing,
In the good old days, the two sure things were said to be death and taxes. In today’s world, should we be adding the inevitability of cybercrime? To help answer that question, let’s look some numbers: The estimated annual cost of cybercrime is $400,000,000,000. Yes, that is billions.
Statistically they say that most businesses fail before their 5th year. Very few business last 10 years. We must be an anomaly.
Warwick, Rhode Island’s second largest community offers the convenience of city living with a small-town feel and a number of opportunities to help your business grow and succeed. Located in the heart of Southern New England,
Quonset Business Park is increasingly seen as a key driver of job creation and economic growth in Rhode Island. It is now home to over 11,800 full-time and part-time jobs at more than 200 companies. Its Port of Davisville is one of
Chittenden County has experienced a flurry of development in the last two years with the majority of growth occurring in the retail and residential rental markets. One of the major projects is the development of 60 acres of waterfront
