Urgent News

Hurricane Dorian Relief – please drop off items Monday – Friday 8:30 am – 5:30 PM at any of our 3 offices.

skip to Main Content

Michael Withrow answers the question: What is a 1031 Exchange and how does it work?

1031 exchange is not a tax avoidance, but rather a tax deferment. For example, if you have a property that you sell for $200,000 rather than paying the 20% tax rate, if that’s your tax rate you have to pay the $400,000. If you have a like property in mind, you can roll all $2,000,000 into other property and you’ll be able to keep your funds working for you. It gives you some extra leverage on the property.

Back To Top