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Tax Exchange Information
Updated on Apr 24, 09
Created on Feb 06, 08
Category: Business & Finance
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taxexchange 's List: 1031 Tax Exchanges
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Apr 24, 09
To start a 1031 Exchange, you first check with their CPA or accountant. You and your CPA need to figure out how much you...
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Apr 24, 09
Is There A Better Way Classic Car Owners Can Sell?
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Mar 05, 09
1031 Tax Exchange Information and Services for Deferring Your Capital Gains Taxes. - Classic Car Investors - There's a Better Way to Sell
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Mar 05, 09
If your investments lie in personal property such as collectible cars or other antiques, you may wonder whether the power of section 1031 can somehow be used to your advantage, and rightfully so, as the sale of collectible property incurs a whopping 28% capital gains liability. Luckily, the answer is yes; though not many are aware of the possibility, 1031 can be made on certain types of personal property, including classic cars, and in light of capital gains rates, those with money in these kinds of investments stand to benefit greatly from the use of section 1031.
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Feb 16, 09
The answer to your dilemma is a 1031 exchange, a tactic which, although extensively used by real estate investors, has not as of yet become a common gambit of those dealing in antiques and collectibles such as classic cars. This is unfortunate, because the capital gains rates associated with sales on these investments are, as I mentioned before, much higher than those on real estate transactions, so a 1031 tax deferment would confer the greatest benefit on those in your line of business.
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