A sale followed by a purchase does not qualify as a 1031 Exchange. Rather a process of intention needs to be in place to qualify for an exchange to count for the tax benefits. The transaction must be treated as
Excess Funds The identification period of a 1031 exchange refers to the first 45-days when a taxpayer identifies property they would like to acquire as a replacement to their relinquished property. It is common for a taxpayer to identify more
The Free Application for Federal Student Aid (FAFSA) is a crucial resource for families navigating the often overwhelming cost of higher education. By providing access to federal grants, loans, and work-study programs, FAFSA helps make college more affordable. However, one
A covered call strategy is a popular options trading strategy that combines both risk management and income generation using stocks. It involves selling call options on a stock you already own, thereby generating additional income while potentially limiting downside risk.
Selling a property is a significant decision that involves numerous considerations for both the buyer and the seller. While the traditional method of immediate payment is prevalent, some sellers opt for more flexible arrangements. One such option gaining popularity is
If you’re a real estate agent working on your first 1031 exchange, you might be feeling a little intimidated. After all, this process can be complex and involves many moving parts. However, with some preparation and a good understanding of
Let InSight break down the 721 exchange, somewhat similar to the 1031 exchange, which provides investors with a smart way to postpone capital gains taxes when letting go of a property that they’ve held for business or investment purposes. These
Roth Individual Retirement Accounts (IRAs) can be a great addition to your retirement savings plan. Many people use Roth conversions to get around income limits on Roth IRAs. However, there’s a tricky tax rule called the Pro-Rata rule that can
A fiduciary is a person or organization entrusted with the responsibility of managing assets or property on behalf of someone else. A fiduciary has a legal obligation to act in the best interest of their client or beneficiary and to
How to “use” Depreciation: Basic Definition: Depreciation is a method used to allocate the cost of a tangible asset (like a building, machine, or vehicle) over its useful life. Since assets wear out or become obsolete over time, they lose
How to “use” Amortization: Basic Definition: Amortization is a process of spreading out a cost or payment over a period of time. It’s a bit like depreciation, but while depreciation typically refers to spreading out the cost of tangible assets
What is the investment objective, and what is the time horizon for achieving it? What is the risk tolerance of the trust or family office? What is the desired return, and what is the asset allocation required to achieve it?
