Real estate agent helping investors and landlords navigate the Cambridge, Somerville and Medford markets | 400+ transactions closed and 100+ 5-star google reviews | Follow me for local market updates
One scenario where 1031 exchanges aren’t necessary? You inherit a property on a stepped up basis. In that case, you can either keep the property and enjoy the cash flow OR sell it and enjoy the gains previously generated tax free.
💰 If you're earning a bit of extra income from side gigs, selling goods online, or any other small trading activities, the Trading Allowance could be your best friend! ✅ If your trading income doesn’t exceed £1,000 in a year, there’s no need to report it on your tax return. #taxtiptuesday #tradingallowance #sidehustle #uktaxtips
Investors who rush a sale without taking the proper steps to line up the pieces needed for a 1031 exchange may find themselves subject to significant tax bills if their sales proceeds lose that tax-deferred status. Read more here ➡️https://bit.ly/3v4xgdW
Camuso CPA | Digital Asset Investors | Web3 Businesses | CryptoCPA since 2016 | Web3 CFO | First CPA Firm To Accept Crypto | NFT Sales Tax | Author | Speaker | Podcast Host
Did you receive tokens through an airdrop? These are taxed as ordinary income when received, not when sold. (Yes, you read it correctly!) You might face capital gains exposure when you sell them later, so plan your tax liabilities carefully to stay ahead.
Heres how many exchanges someone can do over their lifetime: Unlimited Exchanges: There is no limit to the number of 1031 exchanges an investor can perform. This allows investors to continually defer taxes and potentially avoid them altogether if they continue exchanging properties until their death!
Are you sure you know how Capital Gains Tax works? 🤔 It's charged on the profit from selling assets, not the sale amount! Let's ensure you're not overpaying. #FinanceTips 👉🏻 buff.ly/4etnZl4
Real Estate Broker, Investor & Advisor | I help investors accelerate wealth through short-term rentals and commercial real estate investing
What should you do when your property appreciates from $100,000 to $200,000 or $500,000 to a million and you're like, "Hey, I'm ready to sell this thing?" Well, as soon as you sell your property, it's a taxable event. (And if you don't understand the tax code and the loopholes, you'll have to pay a lot of taxes on that). So there's something extremely powerful called a 1031 exchange. One of my favorite things for me and my clients to do when you sell your asset, instead of just taking that cash, go reinvest... use a 1031 exchange, and pay $0.00 in capital gains tax.
I help you grow & preserve your $ to have meaningful life experiences. Live beyond the screen! Investment Advisor @ Rovin Capital President F.I.G. LLC partnered w/Elevated 1031 -Real Estate property via 1031 exchange
A 1031 exchange is a powerful tool. It allows you to defer capital gains tax when you exchange into a other property. Here’s a simple overview of a 1031 exchange. Remember never to accept the funds from the sale of the property. The QI must receive the funds. #1031exchange
Real Estate Broker, Investor & Advisor | I help investors accelerate wealth through short-term rentals and commercial real estate investing
What should you do when your property appreciates from $100,000 to $200,000 or $500,000 to a million and you're like, "Hey, I'm ready to sell this thing?" Well, as soon as you sell your property, it's a taxable event. (And if you don't understand the tax code and the loopholes, you'll have to pay a lot of taxes on that). So there's something extremely powerful called a 1031 exchange. One of my favorite things for me and my clients to do when you sell your asset, instead of just taking that cash, go reinvest... use a 1031 exchange, and pay $0.00 in capital gains tax. #capitalgains #taxloopholes #taxcode
VP Business Development, 1031 Expert @ 1031 Specialists | 1031 Accommodator | Defer Real Estate Taxes Maximize Gains | 631-438-1031
The Actual #1 Rule of 1031 Exchanges: Plan Ahead! 📅 I got a call recently from someone eager to do a 1031 exchange. The issue? They had already sold their property—two months ago. Unfortunately, it’s too late to set up an exchange after the sale closes. ➡️ A lot of people know there’s a 180-day window to complete a 1031 exchange, but here’s the catch: That timeline only applies if the exchange is set up before you close on the sale of your property. If you’re planning to sell an investment property and want to defer taxes, make sure you connect with a qualified intermediary early. Missing this critical step could cost tens or hundreds of thousands in unnecessary taxes. 💸 That's an expensive lesson learned! 🔑 Plan ahead, and don’t leave money on the table! Questions? Drop them in the comments or message me directly! #1031Exchange #SellTaxFree #RealEstateInvesting #PlanAhead
What should you do when your property appreciates from $100,000 to $200,000 or $500,000 to a million and you're like, "Hey, I'm ready to sell this thing?" Well, as soon as you sell your property, it's a taxable event. (And if you don't understand the tax code and the loopholes, you'll have to pay a lot of taxes on that). So there's something extremely powerful called a 1031 exchange. One of my favorite things for me and my clients to do when you sell your asset, instead of just taking that cash, go reinvest... use a 1031 exchange, and pay $0.00 in capital gains tax. #capitalgains #taxloopholes #taxcode
