1031 exchange:
Can I exchange a business--UPS Store Example
Yes, you can 1031 exchange businesses. The exchange must be real property for like-kind real property. This is especially valuable with the explosion of franchises. For instance, say you owned a UPS store and wanted to exchange it for another UPS store (you moved, you liked it better--who knows?).
"Like-kind" is the key here. You can exchange the store building for the store building; you can exchange equipment for the same equipment in the store. For example a scale for a scale, a computer for a computer, a copier for a copier. It does get a specific, but you may find it worth you time. The more expensive the equipment, the more worthwhile the exchange. We have often facilitated dentist offices--think about how expensive x-ray equipment can be!
Large or small, simple or complex, we are happy to help you complete your 1031 exchange. Just give us a call 1-888-899-1031.
FAQs
Capital Gains Tax Example An example of how capital gains is estimated in a ...Read More
Can I exchange a business--UPS Store Example It is possible to exchange a business-but there ar ...Read More
Capital Gains State Tax Rates Find the Capital Gains Tax Rate for your state! ...Read More
How Often can I take Advantage of the Tax Exclusion Under IRC section 121? 121 tax exclusion ...Read More
200 Percent Identification Rule What if the property value increases? Is the ID v ...Read More
Subdividing question Can I subdivide? ...Read More
Tax Free Cash How can I take cash out? ...Read More
Capital Gains Exclusion??? Mixing up Section 121 and Section 1031 ...Read More
More on Capital Gains Question about Capital Gains. ...Read More
Taking Cash Out of a 1031 exchange What about taking cash out of a 1031 exchange? ...Read More
Accumulated Depreciation How do I handle depreciation? ...Read More
Lease Options How do I handle rent money? ...Read More
Dual Use of Property Primary residence and? ...Read More
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