Found 2 blog entries tagged as taxes.

Investing in property is one of the most lucrative endeavors you can delve into if you do it right. Tax rules abound for investors when it comes to selling off property, but there is a popular tool to help maximize profits and avoid capital gains tax. A 1031 exchange can do just that is one of the best bets for building foundational real estate wealth.

 

What is a 1031 exchange?

A 1031 exchange gets its name from Section 1031 of the U.S. Internal Revenue Code, which allows an investor to avoid paying capital gains taxes on the sale of an investment property, as long the proceeds are reinvested within certain time limits in a property or properties of equal or greater value. In short, it’s a tax-deferring transaction that can be used in just about

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The extended deadline for filing taxes this year is October 17.*

 

MarketWatch has provided tips for last-minute filers, see the top tips below:

  • ·        Don’t wait until the very last minute to file online. Imagine if your software stops working, or you have internet issues – you could end up missing the deadline all together.
  • ·        Planning to file on paper? Check local U.S. Post Offices for which branches will be post-marking mail up until midnight. Doing this in advance will show you exactly where to go and be sure to show up at least a half hour before they close.
  • ·        Even if you don’t have all that you need to file a complete return, submit it anyway. You will get hit with a 5% per month late filing penalty if you miss the
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