1031 exchanges or Like Kind Exchanges is the Federal Law that provides a significant tax incentive which encourages assets sold to be reinvested in a like kind asset. The payment of capital gains tax can be avoided by finding a like kind asset to invest in with the proceeds from a sale. 1031 Exchanges should always be considered in any real estate sale, but often times they are not.

One of the main obstacles on a 1031 exchange is locating and identifying a feasible like kind exchange that not only fits the buyer's needs, but also the IRS' strict rules and criteria for eligibility. What is even more challenging is that identification of a like kind property needs to be accomplished within 45 days.

Daniel J. Flynn & Co. has 1031 Exchange experts who help you navigate this often intimidating process. We can help you avoid the common mistakes, and advise you on your best options. If you have an exchange dilemma, chances are we can help you. There is no obligation, so give us a call.

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