Just like everything else in Texas, real estate is big. But selling real estate typically triggers a lot of capital gains taxes that can hit you like a ton of bricks come tax day. Whether you’re a developer, an investor, or simply a homeowner – you can take advantage of the tax deferral benefits inherent in a 1031 exchange.
1031 Exchanges Explained
In a typical 1031 exchange, you sell your property and put the money from the sale (your net proceeds) into another property. This allows you to defer payment on the capital gains taxes from the sale and keep that money working for you in new real estate. Watch the whiteboard animation video below to learn more about how 1031 exchanges work:
Contact us today to start your Texas 1031 exchange – 877.373.1031.