Community: Coffee with Cops March 13, 2018 10am - 1pm Starbucks Union Landing https://www.facebook.com/
Dear Sunil Sethi,Coffee with Cops
Starbucks Union Landing
32240 Dyer St., Union City, CA 94587
Join us at the the Starbucks on Decoto to have friendly conversations and a cup of Java on us. Hope to see you there!
How to Buy a Home Comfortable in the Bay Area's Competitive Real Estate Market - Special class this Saturday March 17
Join us for our interactive seminar to learn about home buying in today's market.
We are real estate experts with over 17 years of experience and offer this FREE seminar to anyone who is looking for knowledge regarding the Real Estate Market in the Bay Area.
You will walk out with enough knowledge to put yourself in the position to purchase a home. Buying a home will be one of the biggest investments of your life. We believe in educating buyers and helping them make wise decisions.
It is our goal to simplify this process and provide you with the information and tools you need to get started!!
In the class we'll cover:
Your Needs & Motivations to Buy
Understanding your Concerns about Market Conditions
Buying at the top of the market
Dealing with competition
Overview of Fremont, Union City, Newark, Pleasanton, Dublin, Hayward, San Ramon & Milpitas
The ABC's of Buying Smart
2013 API Scores/ NEW 2016 CAASPP RESULTS
Boundaries for Schools
How to Comfortably Prepare a Winning Offer
How to Remove Inspection Contingencies
How to Deal with Appraisal Variances
Understanding why you won't get your Loan Approved.
How We Work with our Clients
About Sunil Sethi, MBA, BROKER, REALTOR®, GREEN
He obtained his BA in Economics from UC Berkeley, a MBA from UCLA and holds a California CPA license (inactive). He grew up in Fremont and attended the local public schools. Sunil became a REALTOR because he loves real estate and working with people. The business has allowed him to use all his skills in marketing, sales, mortgages, tax & internet knowledge. (more about him)
Tax Reform is behind us and we are happy to report that Section 1031 remains in the Tax Code. Now that investors and businesses have seen the details of the tax legislation, interest in structuring real estate transactions as 1031 tax deferred exchanges has seen great momentum. Here are some points to consider when contemplating a 1031 tax deferred exchange:
- 1031 Exchanges are used to defer taxes only on real estate. 1031 Exchanges for personal property were eliminated in the Tax Cuts and Job Act of 2017.
- 1031 Exchanges allow taxpayers to defer capital gain taxes and depreciation recapture taxes and the 3.8% Net Investment Income Tax.
- To completely defer payment of any capital gains taxes, taxpayers need to purchase Replacement property with a value equal to or greater than the property that is being sold. In some cases the taxpayer may purchase a property of lesser value and still defer a significant amount of tax.
- 1031 Exchanges follow strict time limits. Once the Relinquished property is sold, taxpayers have a total of 180 calendar days to purchase Replacement property. Within the first 45 days of the 180 the taxpayer must identify the Replacement property that they intend to purchase.
- Exchanges between related parties are allowed, but specific rules must be followed. Buying from a related party requires advanced planning.
- Partnerships may participate in 1031 exchanges. However, if the partners do not wish to stay together for the exchange, there are several interesting structures that can be considered.
- Taxpayers must utilize the services of a "Qualified Intermediary" when participating in a 1031 tax deferred exchange. The Intermediary provides guidance, proper documentation and secures the taxpayer's funds between the sale and purchase.
- 1031 Qualified Intermediaries are not regulated by the Federal Government, nor most State Governments. Therefore, it is up to taxpayers to ascertain the competency and safety of their chosen Intermediary. Questions that should be asked include:
- Who owns the 1031 Intermediary and how financially stable are the owners?
- What criteria does the 1031 Intermediary use to select its depository banks?
- Does the Intermediary have a Fidelity Bond, Errors and Omissions insurance and a Corporate Guaranty?
- Does the Intermediary have Certified Exchange Specialists® on staff?
- Is the 1031 Intermediary a member in good standing in the Federation of Exchange Accommodators (FEA)?
Visit www.ipx1031.com for more information
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