Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one minute moment.
Trying to avoid capital gains? I’m not an expert. I’m going to tell you this right off the top of this, but you need to think about a 1031 if you’re into rental properties or business sales. Sometimes, and they say this is how the rich keep getting richer, is that they do a 1031 exchange, which basically means you sell your business or your property for $1 amount, you take that dollar amount and you reinvest it into other properties or multiples up to three and you don’t pay any tax until later. And then it keeps going on and I and eventually, the taxes may eventually fall off. But either way you look at it, 1031 may be a way for you to keep growing your money with Uncle Sam as your partner. Give me a call.
You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.