Even small investors should consider doing a 1031 exchange, whereby you sell one investment property and immediately put the proceeds toward another investment property. You benefit, because you only pay taxes when you finally stop buying new properties…hopefully sometime way down the line, when you’re old.
By Vivian Marino, The New York Times
As real estate prices have soared, more and more investors have been doing these like-kind exchanges. The 1031 designation is derived from the section of the federal tax code that sanctions such exchanges. For some people, they are akin to a free loan from the Internal Revenue Service.
“If you don’t have to pay income tax on something, you can do something else with that money – like make more money,” said Alan E. Weiner, a partner in the accounting firm Holtz Rubenstein Reminick in Melville, N.Y.
Before hopping on the 1031 carousel, though, investors need to proceed with caution.
Complete article: Trading Spaces, and Deferring the Taxes
View Back Bay condos for sale and rent.
Boston condos for sale:
Back to Boston condos for sale homepage
Contact me to find out more about this property or to set up an appointment to see it.
Condos around Boston to buy:
Back Bay area new condos for sale
Beacon Hill area new condos for sale
Charlestown area new condos for sale
Navy Yard Chalrestown area new condos for sale
Dorchester area new condos for sale
Fenway area new condos for sale
Jamaica Plain new condos for sale
Leather District new condos for sale
Midtown area new condos fro sale
Seaport District area new condos for sale
South Boston new condos for sale
South End new condos for sale
Waterfront new condos for sale
North End area new condos for sale
West End area new condos for sale
East Boston area new condos for sale
Condos around Boston to rent:
Back Bay area condos for rent
Beacon Hill area condos for rent
Charlestown area condos for rent
Navy Yard Charlestown area condos for rent
Dorchester area condos for rent
Fenway area condos for rent
Jamaica Plain area condos for rent
Leather District area condos for rent
Midtown area condos for rent
Seaport District area condos for rent
South Boston area condos for rent
South End area condos for rent
Waterfront area condos for rent
North End area condos for rent
West End area condos for rent
East Boston area condos for rent
Back to homepage: Boston condos for sale
Ford Realty – Boston Real Estate Google Reviews 2019