iowa tax deferred exchanges: Midwest Farmland Exchanges: Cause of High Land Values or Merely Effect? - 01/21/08 04:14 PM
Are Farmland Exchanges occurring in the Midwest in states such as Iowa the cause of high land values or merely an effect? The answer depends upon who you ask, but my personal opinion is that high Midwest farmland values are a lot more likely the result of the increased need for … (5 comments)
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iowa tax deferred exchanges: The Next Verse... Today's Update on the Farm Bill - 01/15/08 06:41 PM
I hope you're hanging in there with me on this subject. It seems like there's a new development every day or so now.
Yesterday I posted on the fact that Congress is back in session and the Farm Bill is something that they will be working on putting together as soon … (9 comments)
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iowa tax deferred exchanges: The Farm Bill - The Latest News Regarding Section 1031 - 01/11/08 07:25 PM
As part of a continuing effort to keep you up to date on the implications that the Farm Bill currently being considered in Washington, DC. may have on Section 1031 tax-deferred exchanges, here's the latest: As you know if you have read my two previous blogs on this subject (the … (5 comments)
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iowa tax deferred exchanges: The 45-Day Identification Period - A Hindrance or Not So Much? - 01/11/08 11:07 AM
Part of a successful Section 1031 tax-deferred exchange is meeting the requirement that potential replacement properties be properly identified within forty-five calendar days after the closing of the relinquished property.
Time out for definitions: Replacement property = the properties that an exchanger would consider purchasing to replace the ones s/he is … (12 comments)
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iowa tax deferred exchanges: Iowa Farmland Sees Its Greatest Increase in Value Since 1976 - 12/19/07 05:22 PM
According to the Des Moines Register, Iowa farmland prices set a record this year for the fifth year in a row. The average price of farmland in Iowa is now $3,908 per acre. This is based upon an annual survey conducted and released by the Iowa State University Extension. Here’s the … (6 comments)
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iowa tax deferred exchanges: Update on the Farm Bill and Its Impact on Section 1031 - 12/19/07 04:59 PM
A little over a month ago, I wrote a blog about Section 12504 of the Farm Bill that was under consideration by the Senate at the time. (You can read it here.) The focus of the blog was the general impact on Section 1031 that a particular subsection of the bill … (30 comments)
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iowa tax deferred exchanges: An Iinteresting and Fun Experience - 12/17/07 09:45 PM
Something interesting happened last week, and it turned out to be a lot of fun. I had the opportunity to visit by phone with another ARer, Jason Smith. Jason is exactly the kind of real estate agent I like to deal with when I need someone to represent me: the kind … (2 comments)
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iowa tax deferred exchanges: Dealer Property Issues—Property Held for Sale - 12/17/07 05:03 PM
There is often confusion when it comes to defining what property qualifies for an exchange. Sometimes it is easier to describe situations that do not qualify. Real estate that is owned as “stock in trade or other property primarily for sale” cannot be exchanged. This type of property is deemed … (4 comments)
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iowa tax deferred exchanges: The Anatomy of a Simple Exchange Transaction - 12/11/07 07:28 PM
One of the most common questions I get asked is something along the lines of "Can you just explain to me how an exchange actually works?" Just as no two real estate sales are identical, no two exchanges are the same. What this blog attempts to do, however, is present … (6 comments)
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iowa tax deferred exchanges: A Serious Threat to Section 1031—Section 12504 of the Current Farm Bill - 11/13/07 10:28 AM
Until this point, my blogs have consisted of setting out the benefits of Section 1031 exchanges and the mechanics of the actual exchange. Today I want to address a critical issue regarding the future of tax-deferred exchanges.
SECTION 12504
Many of you do not follow the industry of agriculture … (7 comments)
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iowa tax deferred exchanges: “Held for Investment”—What's That? - 11/08/07 04:31 PM
“HELD FOR INVESTMENT”—WHAT'S THAT?
The actual wording of Internal Revenue Code §1031 says that in order to qualify for tax-deferred treatment, the property owner must sell property that has been “held for productive use in a trade or business or for investment” (emphasis added) and purchase property of like-kind. Often, … (0 comments)
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iowa tax deferred exchanges: What Real Estate Agents Need to Know About §1031 Tax-Deferred Exchanges - 10/26/07 04:37 PM
It's clear that Section 1031 tax-deferred exchanges provide real estate agents a tremendous opportunity to increase commissions. But more importantly, you are serving your client's best interest when you are able to recognize an opportunity for a tax-deferred exchange. Think about it. What's better for your client? Paying taxes, or being … (2 comments)
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iowa tax deferred exchanges: Tax-Deferred Exchange 101 - 10/18/07 05:01 PM
I thought for my first blog post I would provide an overview of what Section 1031 tax-deferred exchanges are all about. This is going to be geared toward those folks who have never heard of tax-deferred exchanging, or perhaps they've heard of them but don't know much at all about them. … (4 comments)
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