Harvesting Profits vs Paying Capital Gain Taxes:  The 1031 Tax Deferred Exchange

Harvesting Profits vs Paying Capital Gain Taxes:
The 1031 Tax Deferred Exchange

Join us in person or online for 2 hours of discussion ranging from basic through advanced Section 1031 exchange concepts.

Wednesday, August 26 at 2:00 PM
Catawba College Center for the Environment, Salisbury, NC

Statewide Title Exchange Corporation and the Catawba College Institute of Business and Accounting will be holding a 1031 Tax Deferred Exchange seminar covering basic through advanced exchange concepts. You may attend in person or view our live web cast.

Selling property frequently creates a taxable event requiring payment of taxes on the amount of gain realized. Capital gains taxes - Federal (minimum rate of 15%) and state (e.g., North Carolina 5.75% rate) - can take a huge bite out of proceeds, leaving a taxpayer who intends to reinvest the sale proceeds into another piece of investment property that is of equal or greater value with less money to invest in the subsequent purchase, requiring additional cash investment or borrowing.

Wouldn't it be wonderful if there was some way to avoid currently paying taxes in this situation?

There is a way! Section 1031 of the Internal Revenue Code allows taxpayers to defer taxable gains from the sale of qualified property into the purchase of other property if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment. In a properly structured exchange, a taxpayer is permitted to treat the sale and purchase of properties as one transaction and defer payment of tax on the gain (or loss recognition) by following the rules laid out in IRS Regulations.

The objective of this course is to explain the 'safe harbor' guidelines allowing taxpayers to structure transactions in compliance with § 1031. After covering the basic rules, circumstances and purposes of a 'forward exchange' and a 'reverse exchange', as well as the mandatory use of a Qualified Intermediary to accomplish such transactions, this course will provide attendees with understanding of a number of intermediate and advance topics including tax treatment of boot; disbursements for expenses, closing costs and other purposes; related party issues; drop and swap vs. swap and drop; leaseholds; tenancy in common ownership; trusts; principal residence rules; and vacation homes and resort properties.

Presenters
Chris Burti, Esq. - President, STEC
Francis J. Farina, Esq., CPA - Director, CCIBA
Continuing Education Credit
2 hours of CPE/CLE, 2 hours Tax
Registration

Registration is $75 via statewideseminars.com or by calling 800-821-5414

Pre-requisites

This seminar is for Attorneys, CPAs and Paralegals of all levels. No pre-requisites or advanced preparation required.

Further Details

Complaints regarding sponsors may be directed to Dr. Pamela Thompson, Dean of the Ralph Ketner School of Business, at (704) 637-4323 or pthompso@catawba.edu

Requests for cancellations must be received one week in advance to qualify for a refund. No refunds or continuing education credit will be given after that date or for non-attendance.

Catawba College is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors (Sponsor #124670.) State Boards of Accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

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