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Park property in like-kind exchange

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in Small Business Tax,Small Business Tax Deduction Strategies

Pulling off a like-kind exchange under Section 1031 is often easier said than done. Usually, the owner of property you have your eyes on isn’t interested in any property you own.  

Strategy: Add a “qualified intermediary” to the mix. An intermediary can be inserted in the middle of a deferred exchange so you can “park” the money from selling the first property until you find the replacement property. In the end, everyone winds up with the property they want.

But to further complicate matters, like-kind exchanges could be affected by tax reform. This tax break is squarely in the crosshairs of legislators, with the GOP-led House and President Trump supporting changes that would effectively eliminate the main tax benefits. Suffice it to say, if you want to make a like-kind exchange, it might be better to get it done sooner rather than later.  

Here’s the whole story: The current tax rules under Section 1031 and its regulations ...(register to read more)

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