Real estate may seem easy to define and differentiate from personal property. In a 1031 exchange, however, the details matter. Section 1031 applies only to real property, and determining what qualifies isn’t always as simple as identifying something as part of a property. Land and buildings are clear examples of real property. Other improvements and structures can be more … [Read more...] about How to Distinguish Between Real Property & Personal Property
The Importance of Hiring a Qualified Intermediary Early in the 1031 Exchange Process
Many people are aware that working with a qualified intermediary is the best course of action to complete a successful 1031 exchange. However, many taxpayers don’t realize how essential it is to hire a qualified intermediary early in the process of conducting a 1031 exchange. In this article, we discuss the importance of hiring a qualified intermediary early in the 1031 … [Read more...] about The Importance of Hiring a Qualified Intermediary Early in the 1031 Exchange Process
Why Your Accountant Can’t Act As Your Qualified Intermediary
When searching for a qualified intermediary, many people first think of their CPA or accountant, but that’s a common mistake. In this article, we are going to discuss why your accountant (or any other related party) can’t act as your 1031 qualified intermediary. 1031 Exchanges & Related Parties When most people hear the word “related party” they assume it means family … [Read more...] about Why Your Accountant Can’t Act As Your Qualified Intermediary
The Data Behind Miami’s Boom: An Interview with Ana Bozovic
In this episode of Between Two Chairs, Fernando Arencibia and Jennifer Wollmann sit down with Ana Bozovic, founder of Analytics Miami and MiamiDealSheet.com, for a data-driven conversation on where the Miami real estate market is headed next. The discussion moves from Ana’s background in mathematics, physics, and competitive athletics to the macro forces reshaping South … [Read more...] about The Data Behind Miami’s Boom: An Interview with Ana Bozovic
Video – Don’t Take Boot During the 1031 Exchange Process
In a 1031 exchange, you need to re-invest all of your equity from your relinquished property into your replacement property. If you take any of the cash from the sale of your relinquished property and redeploy it into your pocket, the IRS will rightfully tax you on that cash boot. During the 1031 exchange process, don’t take any boot (cash or other property that you receive in … [Read more...] about Video – Don’t Take Boot During the 1031 Exchange Process