By: James T. Walther, Esq., LL.M. Exchange Director, Legal 1031 Exchange Services, Inc.   What is a 1031 Exchange? Although tax deferred exchanges have been part of the Tax Code in one form or another since 1921, many people are not aware of this powerful and easy to use tax benefit. In general, an I.R.C.

1031 NEWS UPDATE – TRY, TRY AGAIN – THE PA LEGISLATURE REINTRODUCES SMALL BUSINESS TAX REFORM PACKAGE, WHICH SEEKS TO RECOGNIZE IRC §1031 by James T. Walther, Esq. LL.M. This is an update to a previous article “Pennsylvania Still Doesn’t Recognize 1031 Exchanges”, about Pennsylvania’s latest failed attempt to recognize IRC Section 1031 tax deferred

INVESTING IN OPPORTUNITY ZONES BACKGROUND, BASICS, AND COMPARISON TO 1031 EXCHANGES by James T. Walther, Esq. LL.M. Introduction: Opportunity Zones (OZs) have frequently been a topic of discussion in the news and in the commercial real estate industry, especially after Amazon’s announcement (now rescinded) that it would expand using a development site in an OZ

By: James T. Walther, Esq., LL.M. Exchange Director, Legal 1031 Exchange Services, Inc. As we begin 2019, Pennsylvania is still the only state that does not fully recognize I.R.C. Section 1031 tax deferred exchanges because it does not follow federal taxation principles for its Personal Income Tax (“PIT”). The Pennsylvania legislature had sought to change

A 1031 exchange is available to foreign sellers of real property held for productive use in a trade or business, or held for investment purposes, however, the foreign status of the person or entity selling the real property can cause some extra complications which must be addressed. The Foreign Investment in Real Property Act (FIRPTA)

With 2018 hurricane season upon us, it is important for exchangers to understand the effects of Federally declared disasters, like Hurricanes Florence and Michael, on the strict deadlines for completing a 1031exchange. For delayed exchanges, the 1031 rules set two time periods for a total deadline of 180 calendar days to close escrow on replacement

Continuing Legal Education Presentation on Representing an IRC 1031 Client QUALIFIED David J. Feeser, Esq. Exchange Director for Legal 1031 Exchange Services, Inc. gave a presentation at the Springfield branch of Flushing Bank on June 19, 2018 to attorneys and other interested parties on representing clients that want to execute a 1031 exchange. The presentation

It is never too early to prepare for a 1031 exchange. There are many options that should be considered when planning for an exchange. Advance planning can help the process go smoother and provide better results for the exchanger. The financial, legal and accounting aspects of the transaction should be considered prior to the sale

New York, NY Legal 1031 Exchange Services, Inc. has welcomed David Feeser, Esq., as its new exchange director. Feeser joined in March 2018 and has been utilizing his knowledge, experience and skills to benefit the company’s clients. Feeser is a member of the New York and Colorado Bar Associations. He has been an attorney for over

By Paul Sullivan Jan. 12, 2018 Of the many winners and losers in the overhaul of the tax code, one change makes real estate investors the biggest beneficiaries, while art collectors seem to have drawn the short straw. Real estate investors were given a gift after Congress voted to maintain what are known as 1031 exchanges,