There are several types of 1031 tax deferred exchanges, but in general a 1031 exchange is a legal method of selling property that allows a taxpayer to defer federal capital gains taxes (and often state taxes) when transferring a Relinquished Property in exchange for a Replacement Property. Relinquished Property is the property that is given up or conveyed… Read More »
If death and taxes are the only two certainties in life, then perhaps our second-greatest fear is being audited by the IRS. Most of us pay our taxes the way we’re expected to precisely because we’re afraid of getting audited; and yet many of us end up getting audited anyway. There are a number of ways to prevent… Read More »
In life, there are no guarantees. You might find yourself in a car accident at age 70 even if you’ve never even had a fender bender before. You might struggle with a marriage after 30 blissful years. Legal entanglements, too, can sneak up on you.