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Section 1031 Exchanges: A Legitimate Tax Shelter for Business ( May 2004 )
Engaging in a "like-kind" exchange under IRC section 1031 is one of the few legitimate tax shelters available to corporations and other business entities engaging in disposition transactions. In a like-kind exchange, the taxpayer sells business property and acquires similar replacement property of equal or greater value within 180 days. By following the various requirements under section 1031, the taxpayer can defer gain on the sale of the "relinquished" property until the "replacement" property is sold at a future date. -
Taking Advantage of Reverse Like-Kind Exchanges ( April 2003 )
The Internal Revenue Service has finally provided a safe harbor for a reverse like-kind exchange. A reverse exchange describes a transaction in which the taxpayer directly or indirectly acquires the replacement property before disposing of the relinquished property. Revenue Procedure 2000-37 provides for the qualification of property as either replacement property or relinquished property for purposes of Section 1031 of the Internal Revenue Code of 1986 ("IRC") if the property is held in a qualified exchange accommodation arrangement ("QEAA"). -
Vanishing Holding Requirements: Like-Kind Exchanges After Magneson, Bolker and The Tax Reform Act of 1984 ( February 2001 )
A random glance at the real estate advertisements in any major newspaper indicates the extent to which exchanges of. -
Avoiding Taxes While "Trading Up" ( April 2000 )
This article summarizes how a company may avoid capital gains taxes if they purchase a "like kind" property which it plans to hold for investment or use in a trade or business. -
Drive Now, Talk Later ( March 2000 )
While driving to a restaurant on a Saturday night, the driver dropped his cellular phone, bent down to retrieve it. -
Euro Conversion ( June 1999 )
International The Euro - How And Why No Section 1001 Recognition Change in Functional Currency Requested Comme.
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