The 1031 Exchange Place Helps Agricultural Land Sellers With the 1031 Process

Posted May 23, 2018 by Michele_Dozier

The Orem, Utah company explains that a 1031 land exchange allows farm, ranch, or orchard sellers go through a transaction without the need to pay federal and state taxes totaling 20 percent to 30 percent.
[b][UTAH, 05/23/2018][/b] – The 1031 Exchange Place has 50 years of experience assisting clients through their 1031 exchange, helping them understand the complexities of deferring taxes and reinvesting proceeds, among others. As part of its exchange services for agricultural lands, the Orem-based company takes care of all the paperwork and ensures the process follows government guidelines.

The company says, “We make sure you get the most out of your exchange.”

[b]Earning Power[/b]

The 1031 Exchange Place explains that a land exchange “allows you to put all of your hard-earned proceeds to work.” Sellers can turn their proceeds into a monthly cash flow. The company connects clients with 1031 advisors that determine the best way for agricultural lands to yield monthly income, without costing sellers property manage costs and capital gains tax.

The advisors may recommend net-lease properties leased by national tenants or NNN. The company adds, “Land sellers find NNN properties attractive because they have a long-term lease already in place with the tenant paying the property tax, insurance premium, utilities, repairs and maintenance, with no responsibilities on the investor’s part.”

According to the 1031 Exchange Place, clients can defer hundreds of thousands in federal and state taxes if they meet the requirements set forth for the 1031.

[b]The Process[/b]

The 1031 Exchange Place notes that clients need to set up a section 1031 before selling their land. Otherwise, they have to pay the resulting taxes, which could total 20 percent to 30 percent of the land cost.

Sellers can choose from different types of exchanges. These include deferred, simultaneous, construction, and reverse. Deferred, the company remarks, is the most type of exchange in which sellers sell their property and identify then acquire an appropriate replacement property. Each type of exchange follows a unique set of processes.

[b]About 1031 Exchange Place[/b]

The 1031 Exchange Place has a dedicated team of advisors and exchange specialists with over 50 years of experience. They assist clients in going over the intricacies of deferring taxes from the sale of investment or business property and reinvesting the proceeds into the fitting replacement property.

The company can work with and support a client’s real estate agent, acquisition broker, merger and acquisition broker, accountant, or other financial professional in finding the right replacement property. To find out more, visit the [b][/b] today.
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Issued By Michele Dozier
Country United States
Categories Business , Finance , Services
Tags business , finance , services
Last Updated May 23, 2018