Whenever you sell business or investment property for a gain you typically have to pay tax on that gain. The IRS has created an exception to this rule known as the Section 1031 exchange. These exchanges are also referred to as like-kind exchanges, deferred exchanges, tax free exchanges, and Starker exchanges. If at the time… Read More »
TURNING A TAX DEFERRAL INTO A TOTAL TAX AVOIDANCE Section 1031 Exchanges: Swap Till You Drop Previously we looked at the requirements and mechanics of a Section 1031 Exchange. For a better understanding of the basic operation of 1031 exchanges please check out that article. Here we look at one aspect of Section 1031 Exchanges… Read More »
Charitable Lead Annuity Trusts, or CLAT trusts, have become a popular method for individuals to minimize their Federal Estate Tax bill. Sometimes referred to as “Jackie O” trusts after the former First Lady Jacqueline Kennedy’s will called for one upon her death in 1994, these trusts have the ability to transfer money tax free to… Read More »