In today’s episode, we discuss how not to pay taxes.
Did you know that when you invest in real estate, you face tax problems? And not just when you sell the property, but at every step along the way. Wouldn’t it be nice if there were a service that dutifully executed all of your 1031 transactions?
A 1031 tax-deferred transaction can be a well thought out strategy for deferring taxes but missteps in execution can be expensive. There is little room for error when it comes to executing TIC Drop and Swap 1031 transactions, so it is vital to have an experienced tax attorney or accountant overseeing the entire transaction and ensuring that all forms are filed correctly, as well as making sure your money stays in the hands of your investors.
Tune in to ensure a successful transaction as Jonathan and I share our knowledge, tricks and experiences.
Highlights of the episode:
00:02:48 The Process of TIC Drop and Swap 1031
00:08:39 Membership Interest
00:14:29 Mutual Cooperation Language
00:20:50 Closing Construction Letter
00:26:20 Bills of Sale and Assignment of Leases
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