Thirty-eight years ago I recognized that there was a hole in the commercial real estate industry...I looked and couldn’t find a broker who specialized in the sale of food and liquor businesses. “Find a need and fill it!” was drilled into our heads in grad school.
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,
Here we are in the middle of the summer with warm days, outdoor events and vacations in our thoughts. Unfortunately most of us still need to work for a living and can only take limited time off.