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Tory Castillo
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JUST SAY NO TO CAPITAL GAINS


1031 Exchange: Why to seriously consider it now!!!!
 
What is a 1031 Exchange: Section 1031 permits investors to defer the payment of tax on the gain from the sale of property held for productive use in business, trade or investment, provided that the property is exchanged for a “like kind” asset or assets.
Why should you to Exchange sooner rather than later?
1031 property tax exchanges has been in effect in this country since 1913 and has not been substantially changed since 1924 to 1984.  However now there is an argument in favor of Repealing section 1031 exchanges saying is disproportionately benefits wealthy taxpayers, causes overinvestment in property. In Obama’s 2015 budget he proposed a gain deferral to $1 million per taxpayer per taxable year, which was estimated $18.27 billion budget deficit reduction.
The National Association of Realtors (NAR) have been fighting to retain the existing tax code.  The NAR believe the modification of the 1031 exchange tax code exchanges would discourage property investments because there wouldn’t be enough money left after paying the capital gains tax to purchase a replacement property of comparable or higher value.
There is no telling what congress is actually going to do with 1031 exchanges! Thus I encourage you, if you have been considering selling or exchanging your investment property to do it sooner rather than later. 
If you have an investment property and would like to do a tax deferred 1031 exchange please call me and we can discuss your options.  I have lots of partners, tax accountants, 1031 intermediators that would love to help you find a way to exchange your property via a 1031 tax deferred exchange before it is too late.
 
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San Ramon has second-largest concentration of computer engineering employees in the Bay Area, behind only Silicon Valley #buysanramonrealestate  
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