1031 Exchanges - Time Well Spent?

AVERAGE AMERICANS SPENT 26.5 HOURS PREPARING TAXES

It took the average American more than 26.5 hours to prepare their taxes this year. This is an increase from 25.4 hours three years ago. It costs Americans an average of $207 to prepare their taxes, up from $185 three years ago. For more information, see the Miami Herald Article that discusses this issue in detail.

I have mixed feelings about the so-called attempts to simplify the tax code because I'm sure during the simplification process we will lose deductions and credits and ultimately end up paying more in taxes. However, it is just crazy that so much money and resources are frittered away trying to prepare individual taxes. And we're not even talking about how much businesses spend on tax counsel, preparation time and human resources to compile records, etc.

Read my other posts to discover the tax deferral benefits of 1031 Exchanges.

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Lisa Lambert, Esq., LisaL@apiexchange.com (877) 646-1031

Asset Preservation, Inc.  WWW.APIEXCHANGE.COM (800) 282-1031