The Real Estate Group at Gillman, Bruton & Capone routinely represent clients in facilitating 1031 tax deferred exchanges by working closely with their tax advisors and qualified exchange intermediaries to deliver a successful and compliant tax deferred exchange.
We specialize in helping sellers of commercial real estate property or other investment property save money through the use of a special provision in the tax code – 1031 Tax Deferred Exchange. Ordinarily, if you sell commercial property, you could end up owing the IRS a significant amount of capital gains and other taxes. However, if you set your sale up as as a 1031 and then buy another piece of property within required time periods, you may defer capital gains tax. We work with an intermediary company that only handles 1031 tax-deferred exchanges. That means that you will be getting the tax break you desire with no surprises.
In addition to 1031 Tax Deferred Exchanges, a new vehicle under the Tax Code called Qualified Opportunity Zones (QOZ) also provides opportunities to defer capital gains taxes by investing in areas designated as being in need of redevelopment. With our experience in complex transactions, our Commercial Real Estate Group has the knowledge of QOZ opportunities and other emerging areas to assist our clients in maximizing their investments.