As a result of the wildfires and straight-line winds that began in Southern California on January 7, 2025, the IRS issued an extension of the 45- and 180-day deadlines for IRC §1031 exchange transactions....more
As the adage goes, “Don’t do business with relatives.” If a taxpayer enters into a Section 1031 tax-deferred real property exchange (an “Exchange”) with a relative or with a “related person” the adage can prove...more
In the article that appeared in last month’s blog, I indicated that we utilize a structure that avoids the taxing authorities’ challenges to “drop and swap” transactions and, instead, that is structured to comply with an...more
Those of us in California who give advice regarding the structuring of IRC Section 1031 like-kind tax-deferred exchanges of real property are well aware that the California Franchise Tax Board (FTB) has an active program of...more
As a result of the severe winter storms, flooding and mud slides that began in California on January 8, 2023, on January 10, 2023, the IRS issued an initial extension of the 45- and 180-day deadlines for IRC §1031 exchange...more
As a result of the severe winter storms, flooding and mud slides that began in California on January 8, 2023, the IRS has issued an extension of the 45- and 180-day deadlines for IRC §1031 exchange transactions. ...more
Are your shareholders leaving money on the table? Certain tax planning strategies, much like magic spells in the Wizarding World of Harry Potter, require some pre-ordained incantations in order to bring them to life. The...more