Enjoy the Tax Benefits of a 1031 Exchange Before it’s too Late!
In the context of real estate and taxation law, IRC Section 1031 (a) (1) would be the closest personification of the proverb "Make hay while the sun shines" – especially now with threats to remove 1031 exchanges from the tax code! People who understand the 1031 provision in its entirety have been using it in the best possible manner and reaping rewards, but there’s a still vast majority that finds it difficult to wrap their heads around the various terms and clauses that mystify and keep them away from 1031 exchanges.
Join real estate and taxation expert Greg Lehrmann to bust the myths that surround 1031 tax-deferred exchanges. Lehrmann will explain the benefits of 1031 exchanges, improvement exchanges, reverse exchanges, and also discuss the prerequisites to qualify, entity issues, exchange time frames, and other legalities around 1031 exchanges. The core agenda of discussing “benefits of exchanging versus traditional buying/selling and paying taxes” will be supplemented by FAQs on personal property exchanges; deferring the right proportion of tax; and understanding of exchange accommodation titleholder (EAT) and qualified intermediary (QI), among others. Lehrmann will specifically spare the last fifteen minutes of the webinar for questions and answers.
After attending this webinar, you will clearly understand why people perform exchanges; when the exchanges can be done; and how to protect exchangers. Plus, you’ll be confident in your ability to advise clients about 1031 exchanges.
This session will bring you up to speed with:
The benefits of “exchanging” versus selling and paying taxes
What qualifies for exchanges – the surprising breadth of “like-kind” with some property types
Personal property exchanges – which are more limited than real estate and minerals
The difference between “exchanges” and “swapping”
How to defer all/some of the tax
How to ensure your exchange is done properly and safely
Greg Lehrmann is an attorney who is Board Certified in Commercial Real Estate Law and Residential Real Estate Law by the Texas Board of Legal Specialization, and is part of the 2% of attorneys in Texas who are double-board certified. He has a B.B.A. with Honors in Accounting from The University of T...