When someone hears 1031 exchange, they think real estate, but 1031 is incredibly diverse and flexible with a little planning. One sector of 1031 exchange that has really taken off is GOLD. Yes, you can exchange gold for other gold. Why exchange gold? If it is done properly, you avoid all the taxable gains on [...]
Savvy Sanibel and Captiva real estate investors are always looking for deals, and now may be the best time. The Golden Rule of real estate investing has not changed – the profit is made by purchasing at the right price and not over paying. The rule on Sanibel and Captiva has never been truer. For buyers getting property at the right price, the tax laws have never been more favorable.
At the beginning of the year, all we could talk about were the new Roth Conversion rules. Well, six months later we are still talking about the new rules, but we have learned quite a bit. For taxpayers with a Traditional IRA that have a lower basis (on assets currently owned) compounded with the three year deferral on the tax payments, the Roth 2010 rules are a great opportunity.
An IRA beneficiary is a specific person or entity (like a charity) that is designated on the IRA application to inherit your IRA, should you meet your demise. Most investment vehicles like IRAs will allow multiple beneficiaries or specific allocation of assets to certain heirs. By not naming a beneficiary, typically, the state probate court will step in and determine who your estate beneficiaries are. While usually not intentional, not naming a beneficiary can cause big problems for any estate.
1031 can be a potent weapon for the smart real estate investor. There is nothing worse than having a client not consider 1031 or not have their real estate professional tell them about it and the relinquished real estate closes and the client changes their mind.