A 1031 exchange allows a taxpayer to defer their capital gains tax when they sell property, and put that cash into a bigger, better property in order to continue their investment. When done correctly, you will be able to keep your money working for you rather than handing it to Uncle Sam.
North Dakota 1031 Exchange
The following video offers a brief explanation of how 1031 exchanges work:
Any taxpayer can realize the benefits of a 1031 exchange. However, there are various timelines, rules, and criteria you have to meet in order to complete a successful 1031 exchange. That’s why it is essential to hire a qualified intermediary to help you execute your 1031 exchange and defer your taxes –877.373.1031.