Upon the sale of your property, you usually have to pay taxes on the capital gain you earned. However, under IRS Code Section 1031, you are provided an incentive by the IRS to postpone paying taxes on capital gains only if you reinvest the proceeds you earned in a like-kinded property. This incentive is a very powerful strategy for those who want to grow their TRUE wealth through Real Estate acquisition.
For more information regarding IRS Code Section 1031 Exchange, please visit here
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