1031 Exchange - What’s the Benefit?
Season 2, Episode 24 – You can do this in business, but you can’t do it for personal gain. What part of the tax code is this? It’s the 1031 Exchange, or as you may know it, the Like Kind Exchange. For instance, when you need new equipment for your business, you can sell the old, and defer the taxes until a later date. Sounds great, doesn’t it? What if taxes go up? How long can you defer the taxes? And why can’t you do this with your personal taxes? The 1031 Exchange doesn't benefit every situation, although it might be right for your business. In this podcast, JDSA Attorney Lindsey Weidenbach explains the 1031 Exchange - What’s the Benefit?
This is the weekly podcast that clearly explains complicated legal issues, and how the law applies to your everyday personal and professional life. *JDSA’s Law Talk discusses general legal issues, but does not constitute legal advice in any respect. Please seek the advice of counsel prior to making or refraining from a legal matter.