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1031 Rule Pushes For Tax Free Profits
The 1031 exchanges are finding investors from a different quarter altogether and even some exchanges have been caught with surprise. Investment has been going up and above in the real estate and coming directly from single-family homeowners. They are cashing in on the ballooning property prices and ensuring to take advantage of the little known 1031 rule that allows them to keep their profits tax free. IRS rule 1031 has been around for a long time, but is enjoying a new popularity among law firms, real estate brokers and individual investors thanks to large profits being gained from escalating property values.
What more, the law firms are benefiting from the renewed interest in tax-deferred exchanges as attorneys are re-educating themselves on the 1031 rules in order to better serve their clients. Law firms are advising clients on the benefits of tax free exchanges.
Real estate attorneys of 1031 Exchange even help investors to gain profit from the sale and acquisition of real property for over 20 years. Tax Free Exchange Seminars for law firms and real estate companies have also increased.
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