Fire Nation - I'm the Old Carmudgeon Whell

4min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

A ten 31 exchange is a process that comes from section 10 31 of the irish code. It allows investors in real estate to sell their investment real estate and then purchasew investment real estate. And indefinitely, they defer having to pay tax on the profit or the tax benefit of rva depreciation. So they get to use the deferred tax that would normally go to the government for their own benefit.

Dave Foster is the founder and CEO of The 1031 Investor. He is a degreed accountant and serial real estate investor who is a qualified intermediary and consultant for tax saving strategies such as the 1031 exchange and the section 121 homestead exemption. He started fixing and flipping in the 90s and realized that about 40% of his profits were going directly to the IRS. Dave tells us about the updated rules and regulations around using the1031 exchange to legally compound your tax interest that will stay with you instead of going straight to the government.

Top 3 value Bombs:

1. The IRS wants you to do this 1031 exchange. It’s nothing out of ordinary. They are encouraging investing in real estate. The key component is that for 1031 exchange allows you to harness compound interest.

2. The positive side of 1031 is that you can use it to move real estate anywhere you want in the country, of any type, and any nature.

3. People will use the 1031 exchange to sell from a highly appreciated environment to an environment where they’ll get more cash flow.

Keep all your taxes working for you and get $50 off your first online order - The 1031 Investor Offer for Fire Nation

Sponsors:

HubSpot: Customer expectations are at an all-time high, and making things easy is how you’ll win. Learn more about how HubSpot can help your business grow better at HubSpot.com.

AG ONE: AG ONE helps you absorb 75 high-quality vitamins, minerals, whole- food sourced superfoods, probiotics, and adaptogens! And right now you'll get a free 1-year supply of immune-supporting Vitamin D and 5 free travel packs with your ﬁrst purchase at AthleticGreens.com/jld!

ZipRecruiter: Outstanding talent is crucial for a successful business. And if you’re hiring, you can find talent for any role at ZipRecruiter. Try it for free today at ZipRecruiter.com/fire!