1031 Exchange Service
1031 Exchange enables an investor to sell a property and to postpone all the primary gain taxes. It also assists a significant portfolio growth and increases the return on investment. 1031 Exchange is actually a transaction which benefits a tax payer in such a way that he is enabled to exchange one of his investment properties for another property or item, by delaying the tax consequence of a sale. This transaction is authorized by 1031 IRS tax code.
The IRS Code reads that no gain or loss shall be recognized on the exchange of property held for productive use in a trade or a business or for any other investment, if such property is exchanged solely for property of the similar kind which is to be held productive use in a trade or business or for the investment.
The 1031 tax exchange also allows you to sell a rental property and defer the taxes on any gain or profit you might make. An important point to remember is that you need to complete the exchange correctly –by following all the rules and the regulations mentioned to avoid any larger amount of tax bill from the IRS.
Homestead Title of Pinellas Inc. can help you in 1031 tax exchange in the State of Florida. We take pride on our customer care and we want build long-term relationship with our customers. For that reason, we make sure that we help you as much as we can in your transactions, closing, O and E reports and several other services which we offer you. We also offer the financial strength to make sure that your funds are completely safe and secure. Every aspect of the exchange will be managed according to the rules and regulations which are set up by IRS.
We have implemented security strategies that go beyond the protection system which is offered by other companies. We want to secure your funds and money and keep you out of the danger. We value your assets and we believe that if we put our best efforts to protect your funds, we will be able to maintain our high grade status as well. We will help you to make more profit a recapture the deprived property (even if it’s rental) into another similar property without paying any more taxes. However, stock in trade, bonds, beneficial interests or certificate of trust cannot be used for 1031 Exchange.
Why Choose Us?
If you have any further questions, our staff is available to guide you more about the 1031 Tax Exchange until you are satisfied. The Homestead Title of Pinellas Inc. exchange counselors, attorneys and the accountants provide their personal and undivided attention to each and every client to carry out their exchange process properly. They are also able to handle the complex exchange transactions quickly with a friendly and cooperative attitude, flexibility and professional or institutional sophistication and decency. We have had helped many clients in their tax exchange previously and our methods and strategies will surely work for you as well.