Greetings everyone...
Hope all of you enjoy this New Blog...please feel free to add comments, ask questions..return often to get new updates and please tell all of your Friends and colleagues to visit also...
Just decided to add another Blog to this wonderful world of the Internet... I further decided that with all the bad news these days... there has to be some good news someplace... So I decided to create a new Blog dedicated to any Good News that comes along dealing with Real Estate and related topics... and not to be in denial.. there is a lot of bad news as we all know..and that can be found all over the place.. But if you are tired of hearing all the bad news I hope this Blog brings you a bit of fresh air for A change....
This idea came to me today when I was notified about a clarification from the IRS about 1031 Exchanges for vacation Homes.... basically how a 1031 exchange works is where an investor could sell an investment property within a specific time frame with what is called a 1031 exchange and pay no capital gains tax... Now the IRS has apparently clarified some issues concerning the 1031 Exchange with vacation Homes... So, the bottom line is if someone wanted to sell their vacation home in one place and wanted to by a similar type in another place...but were concerned about paying a capital gains tax, they would not have to worry..there would not be a tax, the tax would be deferred...Of course certain but not too complicated criteria would be required... anyone considering a 1031 tax exchange should consult a professional familiar with the details or of course contact the IRS directly... the actual link will be supplied shortly...I just heard about this this morning and will investigate it in greater detail and post additional information here at this Blog... Since this was some good news for a change and since I also heard of the growing popularity of a Blog I decided to start this Blog... Please feel free to add your comments... enjoy...
Just decided to add another Blog to this wonderful world of the Internet... I further decided that with all the bad news these days... there has to be some good news someplace... So I decided to create a new Blog dedicated to any Good News that comes along dealing with Real Estate and related topics... and not to be in denial.. there is a lot of bad news as we all know..and that can be found all over the place.. But if you are tired of hearing all the bad news I hope this Blog brings you a bit of fresh air for A change....
This idea came to me today when I was notified about a clarification from the IRS about 1031 Exchanges for vacation Homes.... basically how a 1031 exchange works is where an investor could sell an investment property within a specific time frame with what is called a 1031 exchange and pay no capital gains tax... Now the IRS has apparently clarified some issues concerning the 1031 Exchange with vacation Homes... So, the bottom line is if someone wanted to sell their vacation home in one place and wanted to by a similar type in another place...but were concerned about paying a capital gains tax, they would not have to worry..there would not be a tax, the tax would be deferred...Of course certain but not too complicated criteria would be required... anyone considering a 1031 tax exchange should consult a professional familiar with the details or of course contact the IRS directly... the actual link will be supplied shortly...I just heard about this this morning and will investigate it in greater detail and post additional information here at this Blog... Since this was some good news for a change and since I also heard of the growing popularity of a Blog I decided to start this Blog... Please feel free to add your comments... enjoy...
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