YOUR REAL ESTATE LAWYER ON THE ALABAMA GULF COAST
YOUR REAL ESTATE LAWYER ON THE ALABAMA GULF COAST
The Law Office of Andrew R. McKinney offers a wide range of Qualified Intermediary services. We can handle any type of 1031 tax exchange transaction nationwide.
The sale of real estate can create a large tax liability, but if the real estate is being held for productive use and investment, a properly structured tax deferred exchange under Internal Revenue Code §1031 allows businesses and individuals to defer the recognition of capital gains and other taxes associated with the sale, as long as the relinquished property is replaced with qualifying real estate.
By utilizing a 1031 Exchange, businesses and individuals are able to maximize their capital by deferring taxes that would otherwise be incurred on an outright sale of their property and use the entire amount of the equity from the 1031 Exchange to acquire substantially more replacement property. Properly structured, a 1031 Exchange becomes an invaluable tax savings and wealth preservation tool. For more information regarding a 1031 Exchange and how to property structure your next transaction, please contact our office.
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