Debbie Baum | 1031 Exchange
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1031 Exchange

8 Costly “No No’s” In An Exchange That Can Result In Big Tax Consequences

1031 Tax Exchange | Debbie BaumUnderstanding taxation is instrumental when advising your client through a 1031 exchange transaction.

“Rules surrounding 1031 exchanges are exacting, and mistakes can result in big tax consequences.” -ThinkAdvisor

Brush-up on these eight common & avoidable mistakes that investors tend to make:

1) Overpaying for replacement properties

2) Choosing the wrong qualified intermediary

3) Improperly setting up a 1031 exchange

4) Buying something that doesn’t make sense

5) Bungling financial statements

6) Believing 1031 exchanges eliminate taxes

7) Running out of time

8) Lack of proper tax planning

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Stephen K. Davis | Debbie BaumStephen K. Davis
Safe Harbor Asset Management
167 East Main Street
(631) 421-4341