1031 exchanges offer investors big and small the option of deferring taxes on the sale of real property. Give us a call today to discuss your New York 1031 exchange options – 877.373.1031.
1031 Exchanges Explained
In a standard 1031 exchange, a taxpayer sells a property and then re-invests their sales proceeds into a newer, bigger, better property. If done correctly, this allows the taxpayer to avoid paying taxes on these capital gains and continue their investment over time. While it sounds simple, 1031 exchanges have a lot of rules and regulations by which you need to abide in order to complete a successful exchange. That’s why many savvy investors hire a qualified intermediary for their exchange. More information on the benefits and functions of a qualified intermediary in the video below:
New York 1031 Exchanges
If you are considering a 1031 exchange of property in New York, contact an experienced qualified intermediary. Our New York 1031 exchange professionals have decades of experience helping investors defer their capital gains in 1031 exchange transactions – 877.373.1031.