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Tax Preparation Services Carlisle PA

Do you have an investment property that you would like to sell, but defer the capital gains taxes? If so, then you need to consider a 1031 exchange:

Jackson Hewitt
(717) 243-1004
300 S Hanover St
Carlisle, PA

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Jackson Hewitt
(717) 432-3675
40 S. Baltimore Street
Dillsburg, PA

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Jackson Hewitt
(717) 530-0808
50 E King St
Shippensburg, PA

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Eric M. Weinberg (RFC®), CEP, LUTCF
(570) 499-1913
32 Scranton Office Park
Scranton, PA
Company
Prudential
Qualifications
Education: B.A. Broadcast Journalism
Years of Experience: 8
Membership
IARFC, NAIFA, NICEP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CommOptions, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Foundations, Asset Protection,

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Mr. R. Scott Culbertson (RFC®), CFP
(814) 808-6029
105 W Main Street
Boalsburg, PA
Company
Culbertson Financial Services
Qualifications
Years of Experience: 34
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, personal Coach, Retirement Planning, Tax Planning, Employee Benefits, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Healthcare Accounts, Asset Protection, BuySell

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Liberty Tax Service
(866) 871-1040
28 S Hanover St
Carlisle, PA

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Liberty Tax Service
(866) 871-1040
67 W Main St
Mechanicsburg, PA

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Jackson Hewitt
(717) 920-2250
404 North Enola Drive
Enola, PA

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Mr. Richard P. Sabo (RFC®), RFP
(724) 443-5720
5061 Rt 8
Gibsonia, PA
Company
Money Concepts International
Qualifications
Education: 20 years in the financial planning business. I also testify as an expert witness on insurance and investment fraud. I also have an Income Tax Preparation service.
Years of Experience: 22
Membership
IARFC, MDRT
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Long Term Care Insurance, Charitable Planning, Education Plan, Asset Protection

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Maxwell Heller
1000 Germantown Pike
Plymouth Meeting, PA
Company
Title: Vice President
Company: HJ Wealth Management, LLC
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
Susquehanna University
Bachelor of Science in Accounting 2003
Years Experience
Years Experience: 10
Service
Portfolio Engineering,High Yield Bank Accounts,401k Rollover From Employer,CD Alternative,Life Insurance,Investment & Portfolio Management,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Individual Income Tax Planning,Captive Insurance,Life Settlements,Pension for Highly Compensated Owners,Income for Life/ Preserve Principal,Disability Insurance,Retirement Planning,Investment Consulting & Allocation Design,Insurance & Risk Mana

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How to Avoid Capital Gains on the Sale of an Investment Property

1031 Exchanges: How to Avoid Capital Gains on the Sale of an Investment Property
Tue 11/10/09 09:43:25 am
by Christopher Benedict

Do you have an investment property that you would like to sell, but defer the capital gains taxes? If so, then you need to consider a 1031 exchange:

A 1031 exchange, otherwise known as a "tax deferred exchange" is a strategy and method for selling one investment property and then proceeding with an acquisition of another property, all of which must happen within a specific time frame as set by the rules of the Internal Revenue Service. It is because you will be "exchanging" and not simply buying and selling a real estate investment property that allows the taxpayer(s) to qualify for a deferred gain treatment. Sales of real estate are taxable with the IRS and 1031 exchanges are not.

NOTICE: Due to the fact that exchanging a property represents an IRS-recognized approach to the deferral of capital gain taxes, it is very important for you to understand the rules involved. It is within the Section 1031 of the Internal Revenue Code that you can find the appropriate tax code necessary for a successful exchange.

Why consider a 1031 Exchange?

If you are a real estate investor, or have real estate investment properties, you should consider an exchange when you expect to acquire a replacement "like kind" property subsequent to the sale of your existing investment property. A simple sale of the property would necessitate the payment of a capital gain tax to our friends at the IRS, which can range from 20% to 40% depending on the federal and state tax rates. By selling your property using a 1031 exchange, you are leveraging your purchaing power by keeping all of your funds intact.

To qualify as a 1031 exchange, you must adhere to these two rules:

1) The total purchase price of the replacement "like kind" property must be equal to, or greater than the total net sales price of the relinquished, real estate, property.

2) All the equity received from the sale, of the relinquished real estate property, must be used to acquire the replacement, "like kind" property.

Should either of these rules (above) be violated, then then a qualified tax attorney will have to help you determine the tax liability accrued to the person executing the Exchange. In any case which the replacement property purchase price is less, there will be a tax responsibility incurred. To the extent that not all equity is moved from the relinquished to the replacement property, there will be tax. This is not to say that the (1031) exchange will not qualify for these reasons. Keep in mind, partial exchanges do in fact, qualify for a partial tax-deferral treatment. This simply means that the amount, of the difference (if any), will be taxed as "non-like-kind" real estate property.

THE 1031 Exchange Rule

A property transaction can only qualify for a deferred tax exchange if it follows the 1031 exchange rule laid down i...

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