In this concise, one-minute podcast episode, Dr. Friday, the president of Dr. Friday’s Tax and Financial firm, delves into the advantageous world of 1031 exchanges. She enlightens listeners on how to leverage this tax ruling to swap rental properties across states without immediate tax consequences. Whether you’re dealing with farmland, commercial spaces, or any investment properties, Dr. Friday explains how a 1031 exchange can be a powerful tool in your investment arsenal, akin to retaining tax dollars in real estate similar to a 401k. For personalized guidance, she invites listeners to visit her website. Plus, don’t miss the opportunity to join Dr. Friday’s live call-in show every Saturday on 99.7 WTN for more insightful tax and financial advice.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment.
One of my favorite tax, I guess you would say ruling, is a 1031 exchange. That would be is if you have a rental property and let’s say it’s, I don’t know, maybe you live in Utah and you move to Tennessee and so you decide to sell that one and you want to have another rental property here in Tennessee. You might want to sell the one in there and exchange it so that there’s no tax consequence to you at this time. You can do this on farmland, commercial, any kind of rental or investment properties. This is a great way to continuously grow your money. Think of it like a 401k where you keep tax dollars in your real estate. You need help? Go to www.drfriday.com.
You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.