Tax reform is on the table and Congress is considering changes, or caps, proposed by the Biden Administration to capture tax revenue on the now deferred tax treatment of 1031 like kind exchanges. The proposal ignores the financial impact that restricting the 1031 exchange plan will have on state & local transfer taxes, not to mention income derived by multiple parties involved in these transactions. In this episode, Capital Rivers President & CEO Greg Aguirre calls on 1031 exchange expert Bill Angove for the latest update.
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The 1031 Exchange is critical to the commercial real estate business. Greg and Bill go into detail about this ballot initiative. Bill gives insight on what the 1031 Exchange is and how it works. This is an ongoing and important topic that will continue to be relevant in the CRE industry. Stay informed by the experts to get the most accurate and reliable information.
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