Did you know it's possible to defer the payment of capital gains taxes associated with a business or investment real estate sales transaction
by using a 1031 Exchange?
So, what exactly is a 1031 Exchange?
A 1031 Exchange is a tax deferred sale/exchange of one investment or business property for another "like-kind" investment or business property. If a business or investment property owner sells their property and has a gain on the sale, they generally would have to pay taxes on the gain. 1031 Exchanges allow for a deferral of that taxation, meaning they won't have to pay taxes on the gain until a later date.
What type of properties qualify as a 1031 Exchange?
A Trade or Business property, specifically property that is used regularly in a person's income producing business. It could be rental property, warehouses, farms, retail stores, etc., possibly even your home office. Read more ...
About us
My name is Thomas Danford, CPA and President of Like Kind Exchange Corporation. I started Like Kind Exchange Corporation in 2004 for the sole purpose of assisting real estate sellers in correctly completing transactions that qualify for IRC Section 1031 tax treatment. I am also a practicing Certified Public Account focused on tax engagements for over 40 years, with a specialization in real estate transactions.
Like Kind Exchange Corporation has successfully facilitated hundreds of 1031 Exchanges in the United States and a few International over the past 21 years. Our clients have saved thousands of dollars, sometimes hundreds of thousands of dollars by taking advantage of these tax savings techniques.
While the 1031 Exchange process can be somewhat complicated, we are here to help! We can save you considerable time and effort facilitating a 1031 Exchange by providing all the documentation and services required, such as:
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Serve as your experienced Qualified Intermediary (QI)
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Preparing Exchange Agreements
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Preparing Assignments
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Preparing Carry Back Notes
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Preparing Instructions to the Title Company
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Managing transaction proceeds in a Qualified Account
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Involvement in Construction Projects
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Execution of closing documents as required by the Title Company