Let’s start with a definition: Your trade-in of a business vehicle or airplane on a like-kind business vehicle or plane is called a “Section 1031 exchange.” The good news is that you don’t pay taxes on a 1031 exchange (unless you receive cash or a reduction in debt). But that’s not all. By using some proven tax strategies, you can make the 1031 exchange even better! Want to … [Read more...]
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