With the Affordable Care Act (ACA) going into effect this week throughout the United States, some business owners and executives in the U.S. Virgin Islands may still have questions about whether the Act applies to their company, and if so, what they need to do.
1031 Exchange: Is It Right For You?
By Ronald R. Pennington on
Posted in Real Estate
If you are currently considering selling and acquiring property of similar value, perhaps a 1031 exchange is right for you. A 1031 exchange differs a typical real estate sale because the property is considered to be exchanged instead of sold. Partial exchanges also qualify and receive partial tax-deferred treatment. One of the main advantages of a 1031 exchange is that the taxes are deferred, unlike those of a sale. As no economic gain has been realized, the government allows you to bypass the payment of taxes.…