by Kenneth Palmen | Feb 18, 2015 | 1031: Did You Know?
There is less to LKE documentation than many Exchangers and potential Exchangers expect. Start to finish, here’s what you’re looking at: 1) an agreement between the Exchanger and the QI (Qualified Intermediary such as EquipEx) that spells out each...
by Kenneth Palmen | Feb 18, 2015 | 1031: Did You Know?
The most common type of 1031 Exchange, a Forward Exchange, adds minimal time and work for the Exchanger and other parties involved. An Exchanger completing their first 1031 with any QI should plan on an hour to review Exchange Agreement documents and 15 minutes or so...
by Kenneth Palmen | Feb 13, 2015 | 1031: Did You Know?
Section 1031 allows a good deal of flexibility for equipment in these categories. Most construction machinery, or “yellow iron” as it’s known in the industry, falls within NAICS code #333120. The same goes for farming machinery and implements, within...
by Kenneth Palmen | Feb 4, 2015 | 1031: Did You Know?
We’ve had business owners, managers and even CPAs tell us that the benefits of participating in a 1031 Exchange are not big enough or immediate enough to make it worthwhile. We have a hard time agreeing: improved cash flow and tax exposure take effect as soon as...
