Increased values within the commercial real estate market can trigger significant tax liability when it comes time for a business to sell their property and find a new location. Fortunately, Section 1031 of the Internal Revenue Code offers relief from capital gains taxes if certain standards are met. At TransActionLaw, I draw on more than 30 years of experience to deliver trustworthy counsel to all types of California businesses that seek to defer taxation by completing a property exchange. In standard 1031 arrangements and “reverse exchanges” where the new property is bought before the sale of the existing parcel, I can promptly assess your eligibility and guide you through each step.
If you’re considering selling or swapping your commercial real estate property, you may be able to reap substantial benefits by organizing a like-kind exchange. In an initial consultation, my firm will explain key aspects of these transactions, such as:
Even if you’re unsure whether your real estate transaction is suitable for Section 1031 tax deferral, I’ll give you the advice you need to make decisions that help your business thrive.
William B. Brinckloe, Jr. of TransActionLaw outlines the benefits and drawbacks of tax-deferred exchanges and guides clients through the necessary steps. Please call 949-668-1385 or contact me online to schedule an initial consultation at my Irvine office.