Tax Deferral Real Estate Transactions is defined by IRS

5/18/2021

Business or investment property owners, has your value gone up?

What do you think about a new acquisition?

Instead of paying profits on your property once you sell it, how about entertaining the option to defer your taxes?

With Tax deferral transactions, you will be able to sell and buy a property and pay zero taxes in late deferred transactions.

In this deferred tax transaction, you will not be exchanging property; instead will be replacing property.

The rules defined by the IRS are complex and contain strict time limits to identify and acquire the property. Furthermore, the Tax Cuts and Jobs Act (TCJA) has eliminated prior privileges.

The use of the tax deferred transaction in combination with accelerated depreciation methods makes this authentic tax saving strategy one for the books!

Please contact us if you wish to discuss the possible use of tax deferral transactions to upgrade your rental and commercial property portfolio.

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Important Disclosures

Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.

Keana founded this website and decided and created this blog page to offer a space for those seeking knowledge to understand, however not to be confused with advice or planning strategies.

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