Corporate Account Takeover - How it Works & Tips for Prevention

Corporate account takeover is a type of cyber attack that is growing more and more common. It’s important for those engaging in 1031 exchanges to be aware of how these attacks work and how to prevent them. In this article, we are going to discuss corporate account takeover and how to protect against this type of cyber attack.

How Does a Corporate Account Takeover Occur?

A corporate account takeover occurs when a cyber-criminal takes over your business account. Usually this happens either through the theft of your online credentials or the hijacking of your online session.

How can Someone Steal your Online Credentials?

Typically the way this works is a cyber criminal will start with some sort of social engineering attack. This often comes in the form of an e-mail that has an attachment or a link they want you to click on. If you download the attachment, malware will be downloaded onto your device. If you click on the link, you will be brought to a website that will download malware to your device, or ask you for your login credentials. This malware could be something like a keystroke logger, which collects your keystrokes as you go through your online banking session. Using this information, a fraudster can gain access to your account. This is just one example of how a fraudster can gain access to your online accounts.

How to Avoid Corporate Account Takeover

Education and awareness on social engineering and how fraudsters gain access to accounts is essential. Everything from the physical elements (such as protecting your computer) to email (knowing how to spot phishing emails and other red flags) are great methods for preventing corporate account takeover. It’s also important to work with your financial institution to ensure that they are offering you the best fraud prevention tools available.

Contact CPEC1031

It’s important to be strategic when approaching a 1031 exchange, and a qualified intermediary is the best advisor you can have on your team. At CPEC1031, we have been facilitating exchanges for clients around the United States for over two decades. Reach out to our qualified intermediaries today to discuss the details of your next 1031 exchange! You can find us at our main office in downtown Minneapolis, or at one of our satellite offices around the country.

• 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.

© 2019 Copyright Jeffrey R. Peterson All Rights Reserved

3 Situations in Which a 1031 Exchange Can Help

1031 exchanges can be a great tax-saving alternative to selling property in a traditional sale. However, some taxpayers still don’t understand why they should consider a 1031 exchange for their property. In this article, we are going to lay out three situations in which it makes sense to conduct a 1031 exchange.

You Want to Diversify Your Assets

With a 1031 exchange, you can move into and out of any industry you want. Thus, it is a great way to diversify your portfolio and keep your money working for you over time.

You Want to Merge or Divide Properties

If you want to merge several properties into a single property, or exchange one large property for several smaller properties – a 1031 exchange is a great tool for accomplishing those goals!

You Want a Less Management Intensive Property

Many people utilize the 1031 exchange to move from a management intensive property (like an apartment building), into a less management intensive property. This is especially useful for taxpayers who are entering into retirement and don’t want to have to deal with all the hassles that come with owning a management intensive property.

1031 Exchange Professionals

The 1031 exchange professionals at CPEC1031 are here to help you through all the details of your next like-kind exchange. Our team of qualified intermediaries has been facilitating exchanges across Minnesota and the United States for more than two decades. We put our extensive knowledge to work for you on your exchange and work with you to ensure that you understand the process. Contact us today to set up a time to meet with our 1031 exchange professionals about your next exchange!

• 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.

© 2019 Copyright Jeffrey R. Peterson All Rights Reserved

Moving from Office to Multi-Family Property with a 1031 Exchange

1031 exchanges can be performed on virtually any type of real estate, in any business sector or industry. In this article, we are going to talk about how you can use a 1031 exchange to move from an office property to a multi-family property.

How a 1031 Exchange Operates

A 1031 exchange operates differently than a traditional real estate sale. Rather than selling a property, receiving the net proceeds, and paying capital gains taxes on those proceeds, a 1031 exchange allows you to reinvest those proceeds into a new property and defer the capital gains taxes.

Exchanging from One Industry to Another

The beauty of a 1031 exchange is that you can use it to move from one industry to another. As long as your property is like-kind (most real estate is) and is held for qualifying investment purposes, you can sell a piece of property in one business sector and exchange into a property in a completely different industry. So you can sell an office building and exchange into a multi-family property with a 1031 exchange.

1031 Exchanges – Deferring Capital Gains Taxes on Real Estate

CPEC1031 focuses solely on helping taxpayers defer their capital gains taxes on the sale of investment real estate through the use of the 1031 exchange. Section 1031 is a provision under the Internal Revenue Code that allows any United States taxpayer to defer their capital gains tax on the sale of qualifying property by reinvesting their proceeds into a new replacement property. Contact our qualified intermediaries today to learn more about the 1031 exchange process and to start saving money in capital gains taxes.

• 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.

© 2019 Copyright Jeffrey R. Peterson All Rights Reserved

What is the Best Time of Year to Conduct a 1031 Exchange?

Many taxpayers who are interested in 1031 exchanges want to know when during the year they should embark on their exchange. That’s a great question. In this article, we are going to talk about the best and worst times of year to conduct a 1031 exchange.

1031 Exchanges Through the Seasons

The beauty of the 1031 exchange is that it can be conducted throughout the year. There are no seasonal restrictions that make one time of year better than another. So whether it’s fall, winter, spring, or summer – you can avail yourself of the tax-saving benefits of a 1031 exchange!

Tax Season & End of Year

The two times of year you need to be extra cognizant of your 1031 exchange are tax season, and the end of the year. These are not necessarily bad times to conduct a 1031 exchange. However, these times of year can have an impact on your exchange period, as well as when you should report the exchange to the IRS. It’s always best to consult with a qualified intermediary and your CPA on these matters.

CPEC1031

At CPEC1031, LLC, our 1031 exchange professionals are here to help you defer your capital gains taxes when selling real estate. We have twenty years of experience in the 1031 exchange industry and know the ins and outs of like-kind exchange transactions. Reach out to our qualified intermediaries today with any questions you may have about the 1031 exchange process. You can contact us at our downtown Minneapolis offices to set up a time to chat!

• 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.

© 2019 Copyright Jeffrey R. Peterson All Rights Reserved

The True Power of the 1031 Exchange

The 1031 exchange is an incredibly powerful tool for deferring capital gains taxes on the sale of real estate. But many taxpayers are unaware of its true power. In this article, we are going to explain the true power of section 1031 of the Internal Revenue Code and how you can harness that power to save money on taxes when selling real estate.

How a 1031 Exchange Works

In a typical real estate sale, you sell a piece of property and then have to pay capital gains taxes on the sale. A 1031 exchange allows you to defer these capital gains taxes by reinvesting your net proceeds into a new replacement property.

How to Harness the Power of a 1031 Exchange

So how can you harness the tax-saving power of a 1031 exchange? Simple. Any United States taxpayer is eligible to sell property under section 1031. You just need to ensure that your property meets the required use guidelines (i.e. it’s held for investment use) and be sure to meet all the exchange deadlines. If you do everything correctly, you’ll save yourself a huge capital gains tax bill and keep your money working for you in a continued investment.

Feel the Power of the 1031 Exchange

If you’re ready to feel the true power of the 1031 exchange, contact CPEC1031 today. Our qualified intermediaries have over twenty years of experience facilitating exchanges of all shapes and sizes. We work with clients in the Twin Cities metro area, as well as the greater United States. Contact us today at our primary office located in downtown Minneapolis, or one of our satellite offices located around the country. Let us help you get your 1031 exchange up and running today!

• 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.

© 2019 Copyright Jeffrey R. Peterson All Rights Reserved