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1031 accommodators: California Wildfires - Oakhurst and Silver Complex Fires UPDATE - 06/26/08 07:14 PM
Thursday, June 26 - 10:00 am
THE FOLLOWING INFORMATION WAS OBTAINED FROM THE SIERRA NATIONAL FOREST BASS LAKE RANGER DISTRICT & CAL FIRE
Three fires are located northwest of the town of Oakhurst, south of Fish Camp, just south of Ponderosa Basin, and in the Timber Loft area.
Fire suppression efforts are concentrating on the Oliver Fire containment and the protection of the Ponderosa Basin structures. The Oliver Fire has been turned over to CAL FIRE.
Additional fire resources have arrived and are on the fire lines. One other fire is located in the Star Lakes area … (4 comments)
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1031 accommodators: 1031 Exchanges -- How Closing Costs Are Treated - 02/04/08 06:14 PM
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1031 accommodators: 1031 Exchanges v. 1033 Exchanges -- Involuntary Conversions - 02/04/08 08:48 AM
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1031 accommodators: 1031 Exchanges -- Partnerships - 02/04/08 08:43 AM
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1031 accommodators: 1031 Exchanges -- Handling Earnest Money Deposits In An Exchange - 02/04/08 08:30 AM
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1031 accommodators: 1031 Exchanges -- What is a Section 721 UPREIT? - 02/04/08 08:27 AM
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1031 accommodators: 1031 Exchanges -- Seller Financing/Structured Sales - 02/04/08 08:26 AM
The information provided is for educational purposes only. It is not legal or tax advice. Accordingly, the taxpayer should review the details of the specific transaction with taxpayer's own legal or tax advisor.
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1031 accommodators: 1031 Exchanges -- Parking Arrangements - 02/02/08 05:43 PM
Key Portions of Rev. Proc. 2004-51 are Reflected Below
Section 4.01 of Rev. Proc. 2000-37 provides that the Internal Revenue Service will not challenge the qualification of property held in a QEAA "as either 'replacement property' or 'relinquished property' (as defined in § 1.1031(k)-1(a)) for purposes of § 1031 and the regulations there under, or the treatment of the exchange accommodation titleholder as the beneficial owner of such property...." Thus, taxpayers are not required to establish that the exchange accommodation titleholder bears the economic benefits and burdens of ownership and is the "owner" of the property. The Service and Treasury Department are … (0 comments)
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1031 accommodators: 1031 Exchanges -- Reverse Exchanges - 02/02/08 05:41 PM
REVERSE EXCHANGE BENEFITS
Revenue Procedure 2000-37 ("Rev. Proc. 2000-37"), provides guidelines for the taxpayer to acquire the replacement property before the sale of the relinquished property is completed. The reverse exchange can be the ideal solution if the taxpayer cannot delay the closing of the replacement property. The reverse exchange helps investors meet a number of objectives:
Seize the Moment: Don't miss out on the buy of a lifetime! Immediately acquire a desirable replacement property prior to selling the relinquished property.
Protect Your Exchange: Eliminate the pressure-filled problems presented by the 45-day identification period.
Improve the Replacement Property: Use the parking arrangement to increase the … (0 comments)
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1031 accommodators: 1031 Exchanges -- More Basics - 02/02/08 05:25 PM
WHAT IS IRC SECTION 1031?
Section 1031 of the Internal Revenue Code allows an owner of investment property to exchange property and defer paying federal and state capital gain taxes (up to 15% Federal, 25% depreciation recapture and applicable state taxes) if they purchase a "like-kind" property following the rules and regulations of the Internal Revenue Code. This allows investors to use all of the sale proceeds to leverage into more valuable real estate, increase cash flow, diversify into other properties, reduce management or consolidate holdings.
What is "Like-Kind" Property?
There is some confusion regarding what type of property qualifies for a §1031 tax … (0 comments)
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1031 accommodators: 1031 Exchanges -- Basics - 02/02/08 04:21 PM
The Internal Revenue Code's section 1031 permits owners of appreciated investment property to defer the capital gain tax due on the sale of the relinquished property (conceptually the "old property") by completing the purchase of replacement property (conceptually the "new property") within 180 days of the sale of the relinquished property. In legal and accounting parlance this is called "non-recognition treatment" because the code states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is … (0 comments)
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Lisa Lambert, Esq. (1031 Exchange Expert)
Fresno,
CA
More about me…
The Law Offices of Elisabeth A. Lambert
Address: 1222 W. Shaw Avenue, Fresno, CA, 93711
Cell Phone: (559) 433-5399
Email Me
Discussing 1031 Exchange Issues and Related Real Estate Issues in California. Specifically focusing on the Merced, Madera, Fresno, Selma, Reedley, Oakhurst,Visalia, Hanford, Porterville and Bakersfield areas.
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