Stephen Decker, 1031 Exchange Expert in San Diego, CA & Orange County
Southern California & Alaska
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1031 Resources & Information
What are the benefits of doing a 1031 Exchange?
While the tax deferral benefits are enormous (deferring Federal Capital Gains Tax, State Income Tax, Depreciation Recapture & Healthcare Tax), I would argue that the non-tax benefits are the real reasons why people do 1031 Exchanges. Exchanges are used by investors who want to do one or more of the following:
• Increase your cash flow from your investment property(ies)
• Purchase a property with greater potential for appreciation in property value
• Buy a property that is closer to home
• Diversify into multiple properties
• Consolidate into one property that is easier to manage
• Buy a dream retirement home
• Purchase properties that will set up heirs for the future (estate planning)
• Acquire property with less deferred maintenance
How do I know if a 1031 Tax Deferred Exchange is right for me?
If any of the 1031 benefits bullet points interest you, a 1031 Exchange is worth exploring with a 1031 Exchange Specialist like me. Please give me a call at (619) 246-8187
Are there California 1031 Exchange rules and regulations?
There are no special requirements for doing a 1031 Exchange with a property that you are selling in California. However, if you are going to exchange from CA to another state, you need to be aware that the State of California Franchise Tax Board tracks you when you leave the state with their deferred tax dollars. In 2014 California implemented a “clawback provision” which effectively requires that you file an informational tax return with the State of California each year, showing that you still own the property that you purchased in another state through your 1031 Exchange. They do this because if someday you decide to sell the other property and “cash out”, California will come back and “clawback” the taxes on the gain that was made while you were doing business in the State of California. For more information, please see the text of California Assembly Bill 92 here: Bill Text – AB-92 State government.
Can I get an extension on the 45-day identification period for my Tax Deferred 1031 Exchange?
No, unless you are eligible for an extension due to a federally declared disaster, the IRS doesn’t have any provisions for extensions or exceptions – not even to the next business day if the deadline falls on a weekend or holiday. The best way to get more time is to start looking for your Replacement Property well before the closing of your sale property or to extend the closing date on your sale property.
Can I use money from my 1031 Exchange to improve the new Replacement Property after I buy it?
The day you take title to the property is the end of the exchange for that property. If you have cash left over, that is taxable boot. There is something called a Build-to-Suit or Improvement Exchange, where we, as the intermediary, take title to the property to make the improvements before you take ownership. This is also a more expensive and complicated transaction.
What My 1031 Customers Are Saying
Thank you for “wowing” our group today with your presentation. The quantity and pace of the information provided was just right. My agents were impressed by your knowledge and I expect they will have their clients call you. I will also pass your name on to the other Coldwell Banker managers so that they can invite you to their office meeting.
I have known Stephen Decker for over 3 years and have found him to be honest, reliable, dedicated, conscientious and an excellent member of our extended team. We look forward to future transactions with Mr. Decker and IPX.
We found Stephen to be courteous, professional and responsive to inquiries and clear about issues. He also offers a light touch that makes the client feel at ease. I would recommend him and certainly use his outfit again.
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Why a 1031 is right for me or for my client
With offices near San Diego, Irvine and North County, IPX1031, the nation’s largest exchange facilitator and accommodator, provides industry leading exchange services including guidance, expertise, security and key information on 1031 Exchange rules, regulations and strategy. 1031 Exchange expert, Steve Decker offers you customized solutions to defer capital gains tax and maximize equity in your 1031 like kind investment property.