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 [...]
Archive for the 'Uncategorized' Category
Real estate tax tip – Deferring taxes from real estate exchange
Published by admin September 5th, 2008 in Uncategorized. 0 CommentsIn 1906, an Italian economist, Vilfredo Pareto, noticed that 80% of the wealth generated in Italy was owned by the top 20% of the population. In the 1940s, a business management expert, Dr. Joseph Juran, observed similar phenomena in other areas of businesses, and credited Pareto by calling it the Pareto Principle, also known as [...]