At CPEC1031, LLC we are great qualified intermediaries who can facilitate the mechanics of your 1031 exchange. However, we’re only allowed to wear one hat in the exchange – that of the neutral unbeholden third party. There are a lot of other people that you may need at some point in the process to help you make an informed decision and to have the necessary inputs for a successful 1031 exchange.
Many times, taxpayers need to bring their existing accountant or tax advisor into the decision making process. Your accountant is going to know what the depreciation schedule is on the old property. They’re going to know what your remaining basis is. Basis is critical in a 1031 exchange because your gain is not how much cash proceeds you walk away with, but rather the difference between your current adjusted basis and the net selling price. So even though you walk away from closing with little or no cash proceeds, you may have an enormous gain because your basis may have been whittled down over years of depreciation.
Your accountant is critical in helping you make an informed decision. Without your accountant, your transaction is like an airplane that doesn’t have any instrumentation.
Your Like-Kind Exchange Resource – CPEC1031, LLC
The qualified intermediaries at CPEC1031, LLC are your go-to resource for all things related to section 1031 of the Internal Revenue Code. Our team is ready and waiting to guide you through the like-kind exchange process from beginning to end, ensuring that you are comfortable and well-informed every step of the way. Reach out to us today to learn more about the 1031 exchange process and see how you can save money with a 1031 exchange by reinvesting into a bigger, better replacement property.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
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