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Avoid Capital Gains Tax with a 1031 Exchange
Discuss tax-deferred exchanges with a real estate attorney in Boone, NC
Are you getting ready to sell a property and buy another? You can defer capital gains taxes on property by taking advantage of a 1031 tax-deferred exchange, also called a like-kind exchange. The Law Office of Angle, Perry & Isley Law, PLLC will walk you through the process and explain how to minimize your taxes and save you money by taking advantage of a 1031 Tax-Deferred Exchange.
We will discuss the criteria for tax-deferred treatment under a 1031 Exchange and complete all the necessary paperwork for you. Contact Angle, Perry & Isley Law, PLLC Attorney at Law today to schedule a consultation with a real estate attorney in Boone, NC.
Make sure your purchase meets the necessary criteria
When you're selling an investment property and want to avoid paying substantial capital gains tax, you can defer capital gains taxes on property by taking advantage of a 1031 tax-deferred exchange. It's important to note that:
- You must acquire one or more properties that are equal to or greater in net purchase value than the property sold.
- You must reinvest all your net cash proceeds from the sale of the property.
- You must replace the debt that was paid off on the sale with an equal amount of debt.
Call (828) 265-0016 today to learn more about tax-deferred exchanges involving real estate in Boone, NC.
