Whether you are a veteran of 1031 tax deferred exchanges or new to the process, rest assured Burns 1031 Tax Deferred Exchange Services, LLC is there to assist you. Qualified intermediary Martin Burns relies on over 20 years of experience to help you exchange your investment property and defer capital gains taxes.
Call Burns 1031 Tax Deferred Exchange Services, LLC in Tacoma, Washington, for a phone consultation or to make an appointment today. Martin Burns serves clients in Seattle, Bellevue, and Olympia, as well as out of state clients all over the nation.
There are numerous reasons a 1031 exchange might be right for you:
Cash flow: Allows exchangor to sell an investment property and acquire an improved investment property to generate cash flow
Diversification: Allows Exchangor to sell one investment property and buy multiple investments to diversify a real estate portfolio
Consolidation: Allows Exchangor to sell multiple properties and buy a larger property that is easier to manage
Change Locations: Allows Exchangor to sell an investment property and buy a replacement property in a different city or state
Depreciation: Exchange from a fully depreciated property to a higher value property – the additional value can be depreciated
Appreciation: Dispose of an investment property in a slow market area and acquire property in a hot market area
Conversion: Acquire investment property suitable for future conversion to a primary residence or vacation home
Joint Ownership Problems: Acquire separate properties so that co-owners can separate interests
Reduce Management Burdens: Acquire management-free property
Estate Planning: Dispose of one property and acquire several properties (example: distribute one replacement property to each family member)
Use in Profession: For example, a doctor sells a rental house and acquires a medical building to support the doctor's practice
There are also scenarios in which a 1031 Tax Deferred Exchange is NOT an option. These include:
The relinquished property and/or the replacement property may not be the primary residence or a vacation home of the exchangor
Stocks, bonds, or notes cannot be exchanged
Interests in partnerships cannot be exchanged
Certificates of trust of beneficial interests may not be exchanged
Other types of investment property besides real estate – art or coins, equipment or airplanes, for example, are also now excluded per the new 2018 tax legislation
Take advantage of a 1031 Tax Deferred Exchange right away. If you live in Seattle, Bellevue, or Olympia, schedule an appointment with Martin Burns in Tacoma, Washington, today. As many clients are out of state, telephone appointments are available.